
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, September 28, 1993                   TAG: 9309280163
SECTION: BUSINESS                    PAGE: B4   EDITION: METRO 
SOURCE: Associated Press
DATELINE:                                 LENGTH: Short

PHILIP MORRIS BUYS INTO EX-SOVIET FIRM

Philip Morris Cos. Inc. said Monday it has signed an agreement with the Republic of Kazakhstan to acquire a 49 percent stake in the state cigarette company, Almaty Tobacco Kombinat, and invest about $200 million in modernizing the operation. The purchase price was not disclosed.

ATK employees will hold an undetermined interest in the newly privatized company. Within one year, Philip Morris will acquire the balance of ATK shares still held by the government, formerly a Soviet republic. The deal is expected to close by the end of October.

by CNB