Japan Tobacco Inc Acquires Gudang Garam Units, Enters Kretek Market
Indonesia's Industry Ministry hopes that the recent acquisitions of Karyadibya Mahardika and Surya Mustika Nusantara by Japan Tobacco Inc will have a positive effect on the domestic tobacco industry in Indonesia. The Japan-based cigarette manufacturing company bought 100 percent of the stakes in both companies for a combined price of USD $677 million. The deal is expected to be completed in the fourth quarter of 2017.