Exclusive-EU to okay Philip Morris’ Swedish Match deal after asset sale offer

© Reuters. FILE PHOTO: A Philip Morris logo is pictured on a factory in Serrieres near Neuchatel, Switzerland December 8, 2017. REUTERS/Denis Balibouse

BRUSSELS (Reuters) – EU antitrust regulators will clear Marlboro maker Philip Morris International Inc (NYSE:)’s $16 billion bid for Swedish Match after it offered to sell the latter’s logistics unit, people familiar with the matter said on Monday.

Philip Morris, which announced the deal in May aimed at expanding its presence in the fast-growing market for cigarette alternatives, submitted the concession to the European Commission early this month.

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