TOKYO -- Japan Tobacco continues expanding its presence in emerging markets with a deal to buy the tobacco business of Bangladesh's Akij Group for 124.3 billion taka ($1.48 billion), as rising health awareness leaves little room for growth in advanced markets.
Bangladesh is the world's eighth-largest cigarette market, and Akij Group ranks as the country's second-biggest tobacco company with a 20% cigarette share, JT said Monday. Akij boasts strengths in low-cost brands like Navy and Sheikh.
