Philip Morris International Inc. - PM STOCK NEWS

Philip Morris International (PMI) has announced a long-term exclusive agreement with KT&G, South Korea’s leading tobacco manufacturer, to commercialize KT&G's innovative smoke-free products globally, excluding South Korea. The 15-year partnership, set to begin on January 29, 2023, includes commitments to produce 16 billion consumables in the first three years. This collaboration aims to promote smoke-free alternatives, aligning with PMI's vision for a smoke-free future. PMI has invested over USD 9 billion since 2008 in developing smoke-free products, with approximately 13.5 million adults having switched to PMI's IQOS.

Philip Morris International (PM) announced new biodiversity and water stewardship ambitions, aligning with the Post-2020 Biodiversity Framework at the UN Biodiversity Conference (COP15). The goals focus on achieving no net loss of ecosystems by 2033 and a net positive impact by 2050. PMI aims for carbon neutrality in its operations by 2025 and across its entire value chain by 2040. Recognized with a Triple A score by CDP, PMI emphasizes the importance of sustainable resource management to enhance resilience against climate change-related risks.

The Board of Directors of Philip Morris International (NYSE: PM) has declared a quarterly dividend of $1.27 per share, payable on January 11, 2023. Shareholders of record as of December 22, 2022 are eligible, with an ex-dividend date set for December 21, 2022. Philip Morris continues its commitment to a smoke-free future, having invested over USD 9 billion since 2008 on smoke-free product development, with IQOS now in 70 markets, and 13.5 million adults having transitioned to it.

On May 11, 2022, Philip Morris Holland Holdings B.V. (PMHH), an affiliate of Philip Morris International (PM), announced a public offer for all shares of Swedish Match AB. The offer, declared unconditional on November 7, 2022, led to PMHH acquiring 93.11% of Swedish Match shares by the end of the extended acceptance period. The final share price was adjusted to SEK 115.07 due to a dividend payment. PMHH plans to initiate a compulsory redemption for the remaining shares and seek delisting from Nasdaq Stockholm, aiming to create a comprehensive smoke-free product portfolio.

Philip Morris International (PMI) has announced a new regional structure and senior management changes to support its smoke-free business growth. The restructuring aims to enhance consumer focus and accelerate innovation, with a goal of becoming a majority smoke-free business by 2025. Key management appointments include Paul Riley, Frederic de Wilde, Massimo Andolina, and Deepak Mishra. The changes will take effect by January 2023, consolidating operations into four regions to boost the transition to smoke-free products in various markets, including the U.S.

Philip Morris International (PM) has launched BONDS by IQOS, a new heat-not-burn tobacco product designed for adults seeking alternatives to traditional cigarettes. This product uses the innovative ROUNDHEAT TOBACCO SYSTEM which heats tobacco without burning it, emitting 95% less harmful chemicals compared to cigarettes. BONDS by IQOS is initially available in the Philippines, with plans for wider commercialization by 2023. PMI aims for over 40 million adults to switch to smoke-free products by 2025, with expectations that smoke-free products will contribute over 50% of total net revenues by then.

Framtiden Management Company LLC has tendered its shares of Swedish Match AB to Philip Morris International, indicating disappointment in the acquisition terms for long-term shareholders. Dan Juran, Managing Member of Framtiden, stated their concern over the potential delisting of Swedish Match shares due to Philip Morris nearing a 90% ownership threshold. Juran expressed regret over tendering shares, originally hoping to remain a minority shareholder in a public company. The press release highlights a need for independent evaluation by Swedish Match shareholders regarding this takeover offer.

On May 11, 2022, Philip Morris Holland Holdings B.V. (PMHH), an affiliate of Philip Morris International (PM), proposed a public offer to acquire all shares of Swedish Match AB. By November 4, 2022, PMHH secured tender for approximately 82.59% of shares, declaring the offer unconditional. Following a dividend declaration, the offer price for subsequent shares was reduced to SEK 115.07. PMHH has now acquired 85.87% of Swedish Match shares, prompting plans for compulsory redemption and delisting from Nasdaq Stockholm, aiming for over 90% ownership.

On November 7, 2022, Philip Morris Holland Holdings B.V. announced the unconditional completion of its public offer for Swedish Match AB shares. The offer price was increased to SEK 116 per share, with approximately 82.59% of shares tendered by shareholders. The acceptance period has been further extended to November 25, 2022, with a reduced offer price of SEK 115.07 for shares tendered post-dividend. The acquisition is expected to enhance PMI's smoke-free product portfolio, consolidating results from November 11, 2022.