New York office sale nets Swedish Match $70m

Swedish Match AB said it has sold the New York office of its General Cigar unit to Rockrose Corp for $70 million, making a capital gain after tax of 90 million kronor.

The company said the office sale is connected to the integration of General Cigars into its business.

It expects the sale to have a positive effect on cash flow of 300 million kronor after tax.

AFP