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Philippines -- JT in talks to acquire Mighty Corp

Japan Tobacco (JT) is in talks to acquire Mighty Corp for PHP 45 billion (EUR 775 million) in a deal which would allow the Philippine cigarette maker and tobacco processor to settle its substantial tax liabilities, Reuters said.

Mighty Corp, in a letter to the Philippine Department of Finance, offered to pay PHP 25 billion in unpaid taxes from 2010-2016 and disputed cigarette duty, the tax office said. The letter said the settlement would be funded by the sale of facilities and...

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