ECONOMY

Savvidis sells Donskoy Tabak and Greek subsidiary to Japan Tobacco

savvidis-sells-donskoy-tabak-and-greek-subsidiary-to-japan-tobacco

Japan Tobacco has acquired Donskoy Tabac (DT), owned by Greek-Russian business tycoon Ivan Savvidis, for $1.6 billion it emerged on Friday, with the Greek Tobacco Industry of Xanthi (SEKAP), a subsidiary of DT, being part of the deal.

SEKAP was established in 1975 and acquired by DT in 2013. It came under Savvidis's ownership in July of that year.