British American Tobacco sells Belgian distribution business

British American Tobacco said today it has agreed to sell its Belgian distribution business, Lyfra NV, to Landewyck Group S.a.r.l. The business had gross assets of €39 million at 31 December 2009 and a turnover of €696 million in 2009.

The Luxembourg based Landewyck Group is mainly known for its cigarette and fine cut tobacco products under the brands of Elyxir, Ducal, Austin and Maryland.

The transaction is expected to be completed later this year.