Allen & Overy assists Imperial Brands on €1.2bn Tabacalera’s sale

Imperial Brands has instructed Allen & Overy on the sale of its premium cigar business, Tabacalera for a total of €1.2 billion

After several months, the transaction has been finally carried out through a piecemeal sale of the business. On the one hand, the US business part will be held by Hong Kong-based Gemstone Investment Holding. On the other hand, the business in Cuba and the rest of the world (including 50% of Habanos), is now in the hands of Allied Cigar Corporation.

Allen & Overy team was led by Corporate and M&A partners, Fernando Torrente (pictured left) and Íñigo del Val (pictured right) and included senior associate Francisco Martínez.