British Am. Tobacco Inks Pact With EU To Tackle Illicit Tobacco Trade

15th Jul 2010 11:33

LONDON (Dow Jones)--British American Tobacco PLC (BATS.LN) said Thursday that it has entered into a cooperation agreement with the European Commission and the Member States of the European Union to collectively tackle the problem of illicit trade in tobacco. MAIN FACTS: -Under the agreement, British American Tobacco will be joining forces with and working alongside the European Commission and the law enforcement authorities of the Member States; The agreement will see cooperation in several areas for tackling illicit trade in tobacco and includes the funding by British American Tobacco of $200 million over the next 20 years. -Shares of British American Tobacco at 1030 GMT up 15 pence or 0.66%, at 2281.5 pence, valuing the company at GBP45.56 billion. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 15, 2010 06:33 ET (10:33 GMT)