Goldman Sachs Eyes $50 Million Payday on European Tobacco Deal [Business News Network (BNN) (Canada)]
Philip Morris International Inc (PM)
Last philip morris international inc earnings: 4/21 06:59 am
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Source: Business News Network
with the matter said, a welcome windfall at a time when investment banks are grappling with slowing deal activity. The payout is poised to be one of the largest this year for mergers and acquisitions advisers working on a deal for a European target, the people said, asking not to be identified because the matter is private. Goldman Sachs was sole financial adviser to Swedish Match, which also makes smokeless nicotine pouches, on its $16 billion sale to Philip Morris International Inc. announced last week. Citigroup Inc. and Bank of America Corp., which jointly advised Philip Morris, also stand to make tens of millions of dollars in fees from the deal, the people said. In addition to advising Philip Morris on the acquisition, the two banks are committing about $8 billion apiece for a bridge loan to finance the purchase, the people said. Goldman Sachs was able to parlay a smaller role with Stockholm-based Swedish Match, leading a stalled plan to spin off its cigar business, into a
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PM
Earnings
- 4/23/24 - Beat
PM
Sec Filings
- 5/9/24 - Form 8-K
- 5/8/24 - Form 3
- 5/8/24 - Form 8-K
- PM's page on the SEC website