STOCKHOLM, Sweden, Aug. 5, 2005 (PRIMEZONE) -- In conjunction with the integration of the now fully owned company General Cigar, Swedish Match has entered into an agreement to sell General Cigar's property at 387 Park Avenue South in New York to Rockrose Corporation. Closing of the deal is expected to occur not later than October this year after customary closing conditions.
The selling price is 70 MUSD and will favorably impact net income by approximately 90 MSEK. The sale is estimated to favorably impact cash proceeds by slightly more than 300 MSEK.
Swedish Match is a unique company with its range of market-leading brands in the product areas of snuff and chewing tobacco, cigars and pipe tobacco -- tobacco's niche products -- as well as matches and lighters. The Group's global operations generated sales of 12,981MSEK for the twelve month period ending June 30, 2005. Swedish Match shares are listed on Stockholmsborsen (SWMA).
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