13th Feb 2014 14:21
LONDON (Alliance News) - Imperial Tobacco Group PLC Thursday confirmed that it is reviewing its options in relation to a potential floatation of Compañia de Distribución Integral Logista SA.
The FTSE 100-listed cigarettes and tobacco company said it made the confirmation following recent speculation about its intentions relating to the floatation.
The company said there is no certainty as to the outcome of its review of Logista.
Bloomberg said earlier Thursday that the company was considering an initial public offering of its European logistics unit, citing people familiar with the matter.
The news comes as Imperial Tobacco maintained its expectation for modest earnings per share growth at constant exchange rates in its current financial year on Thursday, with an at least 10% increase in dividend, despite starting the year with a decline in reported tobacco net revenue in its first quarter.
Imperial Tobacco shares were up 5.2% to 2,341 pence, making it the top FTSE 100 mover Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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