Companies roundup: Astra’s China plans and BATS shakeup

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The UK’s largest listed company, AstraZeneca (AZN), may soon choose to carve out its business in China and list it as a separate entity in Hong Kong, according to a report from the Financial Times. The pharmaceutical giant has been in discussions with bankers about the separation for months. A number of multinational companies with a significant presence in China are said to be considering a similar move amid growing geopolitical tensions between Beijing and the United States. 

In sales terms, AstraZeneca is the largest international drugmaker in China. It’s also possible that the company may list its spinoff business in Shanghai. Markets here in the UK were relatively unmoved by the news, with shares falling less than 1 per cent in the first hours of trading today. JJ

British American Tobacco announces board shake-up

Tadeu Marroco was appointed as the new chief executive of British American Tobacco (BATS) last month, and more management changes are incoming after the tobacco giant confirmed a significant restructure of its board. The new roles of chief operating officer and chief strategy and growth officer have gone to Johan Vandermeulen and Kingsley Wheaton respectively, while several other promotions and appointments were made. Marroco said that “this refreshed management board structure is critical to my commitment to build a progressive and agile organisation”. CA

Look at British American Tobacco (BATS) on our Tools & Data page

Coca-Cola bottler picks up vodka brand

The bottling partner of Coca-Cola has reached a deal to acquire the owner of the Finlandia vodka brand. Coca-Cola HBC (CCH) said this morning that it will pay $220mn (£173mn) to buy Brown-Forman Finland Oy. Completion is expected in the second half of this year. Coca-Cola HBC chief executive Zoran Bogdanovic said that “we view this as an attractive investment and a natural evolution of our role as one of Finlandia’s distribution partners”. CCH shares fell by 1.5 per cent in early trading. CA

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