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Santiago.- The head of the endowment fund of the former State-owned companies (FONPER) on Monday announced the firm Japan Tobacco International acquired a 50% stake in the cigarette maker La Tabacalera, after buying City Caribe, while the Dominican State remains with a 50% stake.

Fernando Rosa said the media will be provided the full details of the deal in a National Palace meeting starting 4pm Tuesday, together with officials of the economic cabinet.

He said one the Dominican economy’s former pillar companies was sold for RD$630.0 million (US$14 million).

Interviewed by Nexxo radio in Santiago the official said the deal will means new funds for the joint venture company to “energize and make the cigarette market more competitive.”

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COMMENTS
5 comment(s)
Written by: guillermone, 16 Feb 2016 10:07 AM
From: United States, Bring Back DT Forum

unsure if that is a good or bad thing.
Lets hope for the best and prepare for the worst.
Written by: laman00, 16 Feb 2016 12:21 PM
From: United States, Hollywood CA, TRUMP2016
Since When it is a good thing to sell a state owned company to foreigners?

Sell them and share the dividend amongs A GROUP OF LADRONES nothing new here.
Written by: guillermone, 16 Feb 2016 3:35 PM
From: United States, Bring Back DT Forum

by: laman00, 16 Feb 2016 12:21 PM
From: United States, Hollywood CA

Since When it is a good thing to sell a state owned company to foreigners?

Sell them and share the dividend amongs A GROUP OF LADRONES nothing new here.
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I guess it is good or bad depending on which side you stand.
Written by: Tomas, 17 Feb 2016 11:32 AM
From: Dominican Republic, Cabrera
Hopefully the Japs will control some of
the probable corruption going in in the smoke company.
Written by: ohhhvictor, 17 Feb 2016 12:12 PM
From: United States


It's a good move..: increase of technology to produce cigars, a need for private capital to invest, and a need of a real owner to overseas the operation...

Well done by PLD again!
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