Mr.Danilo Medina, President of the Dominican Republic, with government representatives and executives of Japan Tobacco International at the ceremony in the President`s Palace
Japan Tobacco International, one of the world`s leading cigarette manufacturers has acquired 50 % of the shares in La Tabacalera SA, the former monopoly company of the Dominican Republic. JTI entered into a joint venture with the Dominican government which continues to hold 49,5 % of the shares. This was announced on February 17 in the media, 2016 after a ceremony in the President`s Palace followed by a press conference which was broadcasted live on Dominican Republic TV. The president of the Dominican Republic, Mr. Danilo Medina expressed his happiness about the transaction, appreciating the investment in his country. Mr. Medina said that he expects positive developments for the company which will benefit from the know-how and technology transfer and the further investments announced by JTI. This initiative is a good fit with the overall economic plan and strategy of the government. The fruitful negotiations took place between Fernando Rosa, President of FONPER (the governments agency managing publicly owned companies), Jose Luis de Ramon, President of Consorcio Cita Caribe (the selling shareholder), Dr. Martin-Ralph Frauendorfer, JTI Vice President Legal and Daniel Melo, Director Business Acquisitions. All sides commented very positive on the excellent cooperation. Marchant Guy, JTI`s regional president Americas, said that the company plans to further expand the business also beyond the local boarders and using La Tabacalera as a central resource for further expansion in the geographical area.
Fernando Rosa, Dr. Martin-Ralph Frauendorfer, Jose Luis de Ramon, Joaquin de Ramon
JTI acquired majority share in La Tabacalera 