The Dominican Government and JT International Holding BV (JTI)a private shareholder of La Tabacalera since 2016, reached an agreement through the which JTI will transfer to the FONPERat no cost, all of its shares in The Tobacco Companywhich represent 50% of the capital of this company.
With this acquisition, FONPER becomes the owner of 99.5% of the shares of said company.
There will be a public tender
Subsequent to this Agreement, FONPER as representative of the Dominican State will assume control of the operations of La Tabacalera.
Also, the government of the Dominican Republic and FONPER will make the Necessary steps to call an international public tender for the sale of the shares assigned by JTI to a strategic investor in compliance with the provisions of Law 141-97 of the Public Company Reform.
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Workers and shareholders
This Agreement allows, under the spirit of collaboration, transparency and trust, to ensure the interests of the workers of the Dominican State ande the shareholders, as well as the assets of the Stateensuring the continuation of the production and commercialization of the local brands of La Tabacalera in the different commercialization channels of the Dominican market.
About Fonper
The Patrimonial Fund of Reformed Companies (FONPER) is an institution of the Dominican State created by virtue of Law number 124-01, enacted on July 24, 2001. FONPER’s fundamental mission is to watch over, guard and administer the actions of the State in companies arising from the reform and transformation process carried out since 1997. Its president is José Florentino according to Decree 538-20.
About JTI
JT International Holding BV (JTI) is a company registered in the Netherlands, which acquired 50% of the shares of La Tabacalera from the CITA CARIBE Consortium on February 12, 2016, and was in charge of managing La Tabacalera in accordance with Law 141-97 on Business Reform Public.
