Cigarette maker British American Tobacco has won the auction for Turkish rival Tekel Sigara with a $1.72bn (â¬1.16bn) bid after a televised final bidding round that eliminated the three other groups vying for control of the company.
BAT saw off rival bids from UK-based buyout firm Cinven, a consortium featuring Citigroup Venture Capital International and Turkish conglomerate Dogan Holding, and local cigarette wholesaler Tutsab.
