News | Scandinavian Tobacco Group In Talks For Sale

According to a report on Bloomberg news, the owners of Scandinavian Tobacco Group are in talks with private equity firms about a possible sale of the company.

According to unnamed sources of Bloomberg, CVC Capital Partners Ltd., Rhone Capital LLC and Pamplona Capital Management LLP, are bidding for the Copenhagen-based company

Scandinavian Tobacco Group employs over 9,000 people in 20 countries and in 2010 merged with the cigar and pipe tobacco business of Swedish Match.

STG is the parent company of General Cigars and it is believed the sale could fetch as much as $2 billion.