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“To address the Commission’s preliminary competition concerns, Philip Morris International (NYSE:PM) offered to divest Swedish Match’s logistics arm, SMD Logistics,” the EU competition enforcer said in a statement, confirming a Reuters story on Monday.
Philip Morris is seeking to expand its presence in the fast-growing market for cigarette alternatives, with sales from smoke-free products expected to make up more than its revenue by 2025.
Swedish Match makes snus, a Scandinavian moist oral tobacco product which users place behind their upper lip, where it has half of the global market.
