Squire Sanders Advises SKYCIG on Sale to Lorillard, Inc

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    Squire Sanders’ Corporate team in London has acted for SKYCIG, one of the UK’s leading premium brands of electronic cigarettes, on the sale of the company to Lorillard, Inc. Lorillard, the third largest manufacturer of cigarettes in the United States, and the oldest continuously operating tobacco company in the country, has acquired SKYCIG for £30 million in cash and a contingent consideration of up to an additional £30 million to be paid in 2016 based on financial performance.

    In the US, through its LOEC, Inc subsidiary, Lorillard is already a leading e-cigarette manufacturer; the SKYCIG acquisition is Lorillard’s first in the UK e-cigarette market. SKYCIG will continue to run as a separate operating subsidiary under Lorillard ownership, retaining its current management team and premises in Edinburgh. The London-based Squire Sanders team, led by Corporate partner Robert Bray, advised SKYCIG on the transaction.

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