煙草在線據(jù)《煙業(yè)通訊》報道編譯　　日本煙草公司11月16日稱，該公司已簽訂協(xié)議，收購埃及納哈拉煙草公司和納哈拉自由區(qū)煙草公司（合稱納哈拉）所有的已發(fā)行股票。

　　“該協(xié)議是由日煙集團和控制納哈拉煙草公司的BATATAS.A簽訂的，”日本煙草在其網(wǎng)站上發(fā)布的消息稱。

　　“日本煙草預(yù)計在截至2013年3月31日的本財年內(nèi)完成收購工作?！?/p>

　　“總部及兩個工廠均位于埃及開羅和Shebin El Kom的納哈拉煙草公司是全球領(lǐng)先的水煙煙草（也稱糖蜜和水煙）生產(chǎn)商之一，在埃及國內(nèi)市場占有重要的市場份額。”

　　“該公司向85個國家出口水煙，主要出口到水煙有著根深蒂固傳統(tǒng)的中東和北非等國家?！?/p>

　　“傳承了近100年行業(yè)經(jīng)驗的納哈拉煙草首先提出了芬芳糖蜜的概念，在埃及同類市場占有70%的市場份額。”

　　“通過包括El納哈拉、經(jīng)典、Mizo和其它流行商標(biāo)的多元化品牌組合，納哈拉2011年的總銷量大約為2.4萬噸（銷量大致等同于240億支卷煙）?！?/p>

　　“收購納哈拉煙草為水煙業(yè)務(wù)增長提供了絕佳機會，擴大了我們的品牌組合，符合我們通過一系列煙草產(chǎn)品類別滿足成年消費者需求的戰(zhàn)略，”日煙國際負(fù)責(zé)中東、近東、非洲和土耳其地區(qū)以及全球免稅業(yè)務(wù)的區(qū)域總裁Fadoul Pekhazis說道。

　　“而且，收購納哈拉煙草還能擴展日煙國際在中東和非洲的地理足跡，在長期內(nèi)，可為日煙國際進軍埃及可觀的卷煙市場提供平臺。”

　　日本煙草稱，公司計劃通過日煙集團的現(xiàn)有資金資助收購，如有必要，還將通過貸款措施資助收購。

　　“收購交易是根據(jù)納哈拉煙草的息稅、折舊、攤銷前基本收益的高至單位倍數(shù)估值的，”日本煙草稱。

　　“預(yù)計收購將會對日煙集團的綜合業(yè)績、現(xiàn)金流和資產(chǎn)負(fù)債表的影響較小?！?/p>

評論：

　　日本煙草公司一直致力于擴展其在海外的市場足跡，這次收購埃及的百年水煙企業(yè)納哈拉，不僅可以擴充其產(chǎn)品的種類，實現(xiàn)多元化品牌組合，還能夠繼承納哈拉公司在中東和北非等80多個國家的市場資源，而這將為日本煙草國際公司進入埃及和北非等地的卷煙市場提供一個很好的平臺。日煙國際去年以4.5億美元收購了同樣位于非洲北部的蘇丹Haggar卷煙公司，今年又將埃及市場納入版圖，可見日本煙草公司開始在這些控?zé)煼ㄒ?guī)不太嚴(yán)格的市場尋求新的增長機會。

JT's Nakhla Acquisition is Platform for JTI Entry to Egypt's Cigarette Market

　　Japan Tobacco Inc. said today that it had entered into an agreement to acquire all of the outstanding shares of Al Nakhla Tobacco Company S.A.E. and Al Nakhla Tobacco Company - Free Zone S.A.E. (collectively, Nakhla).

　　'The agreement has been signed1 between the JT Group and BATATAS.A., which controls Nakhla,' JT said in a note posted on its website.

　　'JT expects to complete the acquisition in the fiscal year ending March 31, 2013.

　　'Nakhla, with headquarters and two factories in Cairo and Shebin El Kom, Egypt, is one of the world's leading waterpipe tobacco (also known as molasses and shisha) manufacturers with an important presence in its home market.

　　'It exports to 85 countries, primarily in the Middle East and North Africa where such products have a deep rooted heritage.

　　'With a heritage of almost 100 years of industry experience, Nakhla pioneered the concept of aromatic molasses and holds a 70 per cent market share in this segment in Egypt.

　　'Nakhla's total sales volume was approximately 24,000 tons in 2011 (roughly comparable to 24 billion cigarettes by volume), across a diverse brand portfolio comprising El Nakhla, Classic, Mizo and other popular trademarks.'

　　"Our acquisition of Nakhla offers an excellent opportunity for growth in the waterpipe segment and widens our brand portfolio, in line with our strategy to address the needs of adult consumers across a range of tobacco product categories" commented Fadoul Pekhazis, Japan Tobacco International's regional president of its Middle East, Near East, Africa and Turkey regions, and its World-wide Duty Free operations.

　　"Furthermore, the acquisition enhances JTI's geographical footprint in the Middle East and Africa, and over the long-term provides a platform for JTI to participate in the sizeable cigarette market in Egypt."

　　JT said it was envisaged that the acquisition would be funded by JT Group's existing funds and, if necessary, by loan facilities.

　　'The transaction is valued at a high single digit multiple of Nakhla's underlying earnings before interest, tax, depreciation and amortization in 2011,' JT said.

　　'The acquisition is expected to have a minor effect on the Group's consolidated performance, cash flow and balance sheet.' Enditem