B.A.T. Industries PLC
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This article is part of the Tobacco portal on Sourcewatch funded from 2006 - 2009 by the American Legacy Foundation. |
B.A.T. Industries PLC (British American Tobacco) was long the parent company of Brown & Williamson Tobacco Co. in the U.S.
Description
B.A.T. Industries PLC (British American Tobacco) of London, England was a "Tobacco giant." They were the ultimate parent company of Brown & Williamson Tobacco Corp. and, as of 4/94, The American Tobacco Company (pending anti-trust approval).
Brown & Williamson Tobacco Corporation was a subsidiary of BATUS Tobacco Services Inc.; BATUS Tobacco Services Inc. was a wholly-owned subsidiary of BATUS Holdings Inc., which operated as a holding company circa 1994.(Castano: BWT List of Affiliations 5/27/94).
BATUS Holdings Inc. is a wholly-owned subsidiary of South Western Nominees Limited, which in turn is a wholly-owned subsidiary of B.A.T. Industries, P.L.C. (1994) (Castano: BWT List of Affiliations 5/27/94). B.A.T. Industries PLC bought The American Tobacco Company from American Brands Inc. for $1 billion, announced April 26, 1994.(Clarion-Ledger/AP 4/27/94) The agreement between American Brands Inc. and B.A.T. Industries PLC (for the sale of The American Tobacco Company) had a "material adverse change clause," that stated that if the FDA regulated cigarettes and if there were any material change of the distribution and sale of cigarettes, British American Tobacco has latitude to reexamine the deal.(Dow Jones, 6/27/94).
British American Tobacco Industries had a 31% stake in Indian cigarette giant ITC Ltd. as of May 1994.(Reuters 5/13/94). British American Tobacco owned the Lucky Strike and Pall Mall brands outside the United States before the purchase of ATC (pre-1994).(Agence France 7/13/94).
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