New tobacco company to buy Reynolds American, an American company that makes cigars and cigarettes, for $1.5 billion.
Reynolds American owns Cigar City, a cigar manufacturer, as well as the tobacco industry’s largest brand, American Express.
The Reynolds American deal is expected to close on Friday.
Reuters/Joe Raedle/File FILE FILE – In this Sept. 10, 2015 file photo, tobacco companies founder, President and CEO, Reynolds American CEO, John Reynolds speaks during a press conference at the company headquarters in Asheville, N.C. The U.S. Department of Justice announced Friday, March 12, 2021, that Reynolds American has agreed to pay a $1 billion fine to resolve charges that it knowingly sold cigarettes in countries that violated U.N. tobacco control policies and to provide refunds for tobacco-related harm caused to consumers.
The company will also pay $7.5 million to the U.K.’s Department of Health and Social Care and $3.5 to the Irish Health Service for treating and helping people quit smoking.
(AP Photo/David Goldman, File) UNITED STATES – MARCH 13: The United States Department of Commerce announces a settlement agreement between the U and United States of America, the United Kingdom and the European Union to resolve claims arising out of the 2015 Tobacco Control Settlement Agreement and related civil and criminal investigations, including the investigation of alleged violations of the Tobacco Control Rule, pursuant to Section 301 of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, and Sections 2101 and 2105 of the Clean Air Act, as added by the Omnibus Tobacco Control Act of 2015, which passed in 2016.
(Photo by Evan Vucci/AP, File; file photo) UNITED States – MARC 13: An employee carries a cigarette into a Reynolds American store at a gas station in New York, New York.
A U.W. study has found that the number of smokers in the U