News Release

British American Tobacco completes acquisition of Protabaco

12 October 2011

British American Tobacco announced today it has completed its acquisition of Productora Tabacalera de Colombia, S.A.S. (Protabaco), the second largest cigarette company in Colombia, for an enterprise value of US$452 million.

The completion follows earlier approval by Colombia’s competition authority, the Superintendence of Industry and Commerce, on 2 August 2011.

Protabaco sold 5.5 billion domestic cigarettes in 2010 and the transaction represents a multiple of 11.3 times US$40 million domestic 2010 EBITDA on net domestic revenues of US$110 million.

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