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FILE PHOTO: Benson & Hedges cigarettes packets are displayed in a tobacco shop in Vienna, Austria, on May 12, 2017. REUTERS / Leonhard Foeger
(Reuters) – Philip Morris International Inc. said Friday that its Canadian unit, Rothmans, Benson & Hedges Inc. (RBH), had been protected from creditors in a clbad action lawsuit organized tobacco in Quebec earlier this month.
The company announced that it would deconsolidate RBH from its financial statements and that it would reduce its earnings per share guidance diluted for 2019 to 2019 to at least US $ 4.90 at prevailing exchange rates, as opposed to at least $ 5.28 in the March 4 forecast shortly after the decision in Quebec.
The Quebec Court of Appeal has confirmed the essence of the 2015 decision, which provided about C $ 15 billion to smokers in the Canadian province, a blow to several large tobacco companies, including RBH .
Report from Shubham Kalia to Bengaluru; Edited by Leslie Adler
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