By Richa Naidu
LONDON (Reuters) – British American Tobacco Plc is in advanced talks to transfer its Russian business to SNS Group of Companies, its distributor of about 30 years, SNS said, amid threats that Moscow would renationalise assets of foreign firms that left the country.
“The process of transferring the management of BAT business in Russia to SNS GC is well under way at remarkable speed,” an SNS spokesperson told Reuters. “The handover details are currently being negotiated.”
BAT declined to comment on Friday.
(Reporting by Richa Naidu; Additional reporting by Chris Kirkham in Los Angeles; Editing by Josephine Mason and Kirsten Donovan)
