British American Tobacco has lost more than R110 billion – more than 7% - of its market value since the Russian invasion of Ukraine. | Fin24
British American Tobacco has lost more than R110 billion of its market value since the Russian invasion of Ukraine.Its operations in Russia continue, but have been suspended in Ukraine.
The tobacco group, which has 2 500 employees in Russia, continues to operate in that country, but has suspended Major international companies have divested their interests in Russia, or suspended operations as countries across the world impose sanctions on that country, following its invasion of Ukraine.
The company established a presence in Russia more than 30 years ago, and has since invested more than $1 billion in that market. BAT has a manufacturing facility in St Petersburg which produces cigarettes and sticks for heating. BAT Russia also owns an international tobacco marketing and sales services company. Russia became one of the priority markets for the group, according to the BAT Russia website.
BAT Ukraine was established in 1993. Its head office is in Kyiv and its manufacturing facility in Pryluky employs more than 1 000 people.
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