Britain's Imperial Brands, the world's fourth-biggest tobacco company, said it had formed a joint venture with China National Tobacco (CNTC), as it looks to grow in China and international markets. Based in Hong Kong, the joint venture - Global Horizon Ventures Limited (GHVL) - will use China's largest tobacco company, Yunnan Tobacco, to grow Imperial's West and Davidoff brands in China. 'Further tobacco and next-generation product launches, as well as potential M&A opportunities, will also be evaluated by GHVL in due course,' Imperial Brands said in a statement.
(photo credit: The Jerusalem Post)