Imperial: BAT: end of tobacco litigation for ITCAN in Canada

BAT announces that its Canadian subsidiary, Imperial Tobacco Canada (ITCAN), has obtained protection from its creditors under the Companies' Creditors Arrangement Act (' CCAA ') in Canada. The Plan was approved by the mediator and monitor appointed by the Ontario Superior Court of Justice in the CCAA proceedings. It puts an end to all tobacco-related litigation in Canada, and provides full relief for ITCAN, BAT and their affiliates. The settlement will be financed by ITCAN's cash flow and future profits from tobacco sales in Canada. Tadeu Marroco, BAT's CEO, said: 'After six years of negotiation, today's decision is an important step that brings ITCAN one step closer to exiting the CCAA, to the benefit of all stakeholders. This announcement does not alter the Group's financial forecasts for 2025. Copyright (c) 2025 CercleFinance.com. All rights reserved.