Philip Morris boosted by partial sale of Sampoerna

US tobacco maker Philip Morris sells 5.7% stake in the Indonesian company, raising $1.4 billion and equating to an annualized return of 37.3%.

Philip Morris International, the world's largest tobacco maker, has seen the value of its investment in Indonesian cigarette maker PT Hanjaya Mandala Sampoerna rise more than three-fold in 10 years after completing a partial stake sale on Thursday.

¬ Haymarket Media Limited. All rights reserved.

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