Navigation Links
Reynolds American Subsidiary to Receive Payment Following Gallaher Joint-Venture Termination
Date:2/21/2008

WINSTON-SALEM, N.C., Feb. 21 /PRNewswire-FirstCall/ -- Reynolds American Inc. (NYSE: RAI) announced today that R.J. Reynolds Tobacco C.V. (RJRTCV), an indirect wholly owned subsidiary of RAI, will receive a payment of euro 265.0 million (approximately $387.6 million) from Gallaher Limited (Gallaher), a JT International (JTI) Group company, resulting from the termination of the joint-venture agreement between RJRTCV and a Gallaher affiliate.

In accordance with the terms of the joint venture, RJRTCV will receive 40 percent of that total, euro 106.0 million (approximately $155.0 million), on or before April 20, 2008. Gallaher will pay the remaining 60 percent of the valuation amount in six equal annual installments of euro 26.5 million (approximately $38.8 million), beginning in April 2009. The dollar values reflect a euros-to-dollars exchange rate of 1.4625, calculated on the morning of Feb. 20, 2008.

After accounting for the company's cost basis and discounting the stream of future payments, RAI expects the payment to result in a pre-tax gain of approximately $300 million, which will be recorded in the first quarter of 2008.

The valuation payment results from last year's termination of R.J. Reynolds-Gallaher International Sarl, a Swiss joint venture that was formed by RJRTCV and a Gallaher affiliate in 2002. The joint venture marketed American- blend cigarettes primarily in Italy, France and Spain.

On April 18, 2007, an affiliate of Japan Tobacco Inc. acquired Gallaher Group Plc, which constituted a change of control of Gallaher as defined by the joint-venture agreement. In accordance with the terms of the agreement, RJRTCV elected to terminate the joint venture prior to its expiration date. The joint venture was
'/>"/>

SOURCE Reynolds American Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine news :

1. Congressman Tom Reynolds Awarded for Protecting Medicare Choices
2. Many Older Americans Have Active Sex Lives
3. Despite grumbling, most Americans say they are happy at work
4. Record Number of Americans Lack Health Insurance
5. Longaberger Expands Horizon of Hope Campaign to Build Support for American Cancer Societys Breast Cancer Initiatives
6. AUDIO from Medialink and Pfizer: Number of Uninsured Americans Grows to 47 Million
7. New Survey Shows Americans are Still Concerned About Food Safety, Yet Still Not Smart About What They Like to Eat
8. Novo Nordisk Appoints New Leader of North American Business
9. Amid Improving Life Expectancy Rates, Risk of Premature Death is Still Significant for Americans, New Study Shows
10. Primary biliary cirrhosis more severe in African-American and Hispanic patients
11. AOA President Calls on Congress to Reauthorize SCHIP and Take Action to Ensure Health Care Coverage for All Americans
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/22/2014)... Roanoke, VA (PRWEB) July 22, 2014 ... as a young child. While most kids outgrow ... Tonelson did not. He is among the three million ... can range from mild to severe. Throughout his youth, ... attending in-school speech sessions and visits with private speech-and-language ...
(Date:7/22/2014)... 2014 BESLER Consulting, a leading ... for hospitals, is pleased to offer a complimentary ... to assist hospitals with analyzing their 2015 QualityNet ... on July 21 allow hospitals to validate their ... However, the data contained in these reports can ...
(Date:7/22/2014)... 2014 Kirby Lester, LLC, the leading ... includes streamlined functionality to perform a trackable double-count for ... Since a double-count of controlled medications is required, the ... quickly perform a second count of any tablet or ... of the second count up to 10 years. This ...
(Date:7/22/2014)... Hill, South Carolina (PRWEB) July 22, 2014 ... weight loss solution managed to lose 20 pounds. Unfortunately, the ... shaky and nauseated for the duration of her time using ... ‘manic’. One woman experienced heart flutters and insomnia as a ... woman experienced a heart attack at the age of 37 ...
(Date:7/22/2014)... 22, 2014 Ronald S. Weaver, ... Inglewood, Calif., today announced a heart transplant patient with ... Counterpulsation (EECP) therapy at Global Cardio Care Centers and ... , The patient, a 55-year-old Hispanic male, also ... Life Program, a nutrition and exercise lifestyle program in ...
Breaking Medicine News(10 mins):Health News:New Steps in the “Ballet of Speech” Create Life-Changing Possibilities for People Who Stutter 2Health News:New Steps in the “Ballet of Speech” Create Life-Changing Possibilities for People Who Stutter 3Health News:New Steps in the “Ballet of Speech” Create Life-Changing Possibilities for People Who Stutter 4Health News:Complimentary Re-admissions Analytics Tool Available From BESLER Consulting 2Health News:Kirby Lester KL1Plus Pharmacy Automation Perfect for Double-Counting & Tracking Prescriptions from Any Pharmacy Robot 2Health News:SlimPlate System Urge Women to Shun Controversial Weight Loss Pills for Healthier Methods Like Portion Control 2Health News:Ronald S. Weaver, MD, Owner of Global Cardio Care Centers, Announces EECP Treatment Success for Cardiomyopathy Patient Who Needed Heart Transplant 2Health News:Ronald S. Weaver, MD, Owner of Global Cardio Care Centers, Announces EECP Treatment Success for Cardiomyopathy Patient Who Needed Heart Transplant 3
... ... professionals are turning to BurrellesLuce for valuable advice on making optimal use of Twitter and ... ... public relations practice, many PR professionals are turning to BurrellesLuce for valuable advice ...
... LINO LAKES, Minn., Aug. 26 Despite ... construction firms have been recognized by Minnesota Laborers-Employers Cooperation and ... 2008. , , Begun in 2007, the ... performance and proactive approach of Skilled Construction Union Laborers and ...
... , , WASHINGTON, Aug. ... who was a champion for vulnerable people throughout his life and a ... the midst of America,s great discussion of health care reform, Kennedy was ... We hope that Congress will honor his memory with the completion of ...
... arsenic from the body, according to a new study that ... the potentially toxic substance. The study found that some people ... the diet. Others store arsenic in their bodies, where it ... application of new methods for studying arsenic, is scheduled for ...
... , , WILMINGTON, ... comparative effectiveness study performed by HealthCore, Inc. in its August ... better clinical outcomes with oral controllers than inhaled corticosteroids. , ... requested the comparative effectiveness study to help ensure that its ...
... , JERICHO, N.Y., Aug. 26 Optimum ... New York metropolitan area businesses, today announced that Medical ... in Long Island, has selected Optimum Lightpath as its ... Optimum Lightpath,s 100% fiber Ethernet connection, Medical Arts Radiology ...
Cached Medicine News:Health News:PR Professionals Making Good Use of Social Media With Help From Twitter Webinars Run by BurrellesLuce 2Health News:PR Professionals Making Good Use of Social Media With Help From Twitter Webinars Run by BurrellesLuce 3Health News:Twenty-Two Regional Construction Firms Recognized for Their Commitment to Worker Safety 2Health News:Comparative Effectiveness Research Study in Mayo Clinic Proceedings Demonstrated Asthma Patients Had Better Overall Results with Oral Controllers than Inhaled Products 2Health News:Comparative Effectiveness Research Study in Mayo Clinic Proceedings Demonstrated Asthma Patients Had Better Overall Results with Oral Controllers than Inhaled Products 3Health News:Comparative Effectiveness Research Study in Mayo Clinic Proceedings Demonstrated Asthma Patients Had Better Overall Results with Oral Controllers than Inhaled Products 4Health News:Medical Arts Radiology Chooses Optimum Lightpath to Speed Anytime, Anywhere Access to Patient Data and Communications 2Health News:Medical Arts Radiology Chooses Optimum Lightpath to Speed Anytime, Anywhere Access to Patient Data and Communications 3
(Date:7/22/2014)... , July 22, 2014  ConvaTec, a privately-held ... Nigel Clerkin has been appointed chief financial officer ... Mr. Clerkin was previously executive vice president and chief ... -based biotechnology company.  Mr. Clerkin was part of ... at Elan, culminating in its sale to Perrigo, a ...
(Date:7/22/2014)... The steady decline of pharmaceutical sales ... rep-friendly specialties, according to the spring 2014 AccessMonitor™ ... ZS Associates.      AccessMonitor™ aggregates sales-call ... teams. The report examines how often approximately 325,000 ... sales reps who visit their offices. ...
(Date:7/22/2014)... 2014 WuXi PharmaTech (Cayman) Inc. (NYSE: ... outsourcing company with operations in China ... that it will release financial results for the second quarter ... Wednesday, August 13, 2014 (which will be Thursday morning, August ... on the investor relations section of the Company,s website at ...
Breaking Medicine Technology:ConvaTec Names Nigel Clerkin Chief Financial Officer 2Even traditionally rep-friendly specialists will see fewer pharmaceutical sales reps this year, according to ZS Associates 2Even traditionally rep-friendly specialists will see fewer pharmaceutical sales reps this year, according to ZS Associates 3Even traditionally rep-friendly specialists will see fewer pharmaceutical sales reps this year, according to ZS Associates 4Even traditionally rep-friendly specialists will see fewer pharmaceutical sales reps this year, according to ZS Associates 5WuXi PharmaTech Schedules Second-Quarter 2014 Earnings Release 2
... ARUP Laboratories is a national reference laboratory ... research and development. ARUP offers an extensive ... medical tests in clinical and anatomic pathology. ... Laboratories' clients include more than half of ...
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
Medicine Products: