Indonesia: Gudang Garam sells subsidiaries to Japan Tobacco Inc for $677m

Indonesia: Gudang Garam sells subsidiaries to Japan Tobacco Inc for $677m

Gudang Garam, one of Indonesia’s largest tobacco companies, has agreed to sell its wholly-owned subsidiary Karyadibya Mahardika (KDM) and its distributor Surya Mustika Nusantara (SMN) to Japan Tobacco Inc (JT Group), a filing revealed.

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