Philip Morris International Inc. (NYSE:PM) acquired 14.7% stake in Eastern Company S.A.E (CASE:EAST) on May 22, 2024. As part of this acquisition, PMI and Eastern seek to explore, on a non-exclusive basis, potential strategic areas for mutual long-term collaboration, in the fields of technology, manufacturing, and innovation, including heated tobacco products, paving the way to a path towards a smoke free future in Egypt.

Philip Morris International Inc. (NYSE:PM) completed the acquisition of 14.7% stake in Eastern Company S.A.E (CASE:EAST) on May 22, 2024. Chris Macbeth, Isabel Rooms, Richard Sultman, Laurie Achtouk Spivak, James Corsiglia and Edward Aldred of Cleary Gottlieb Steen & Hamilton LLP and acted as legal advisors to Philip Morris International.