Altria Group, Inc. Announces Effectiveness of the Form 10 Registration Statement of Philip Morris International Inc. |
NEW YORK--(BUSINESS WIRE)--March 7, 2008--Regulatory News:
Altria Group, Inc. (NYSE: MO) today announced that, in connection
with its proposed spin-off of Philip Morris International Inc. (PMI),
the Securities and Exchange Commission (SEC) has declared effective
PMI's Registration Statement on Form 10.
As previously announced on January 30, 2008, the Board of
Directors of Altria Group, Inc. (Altria) authorized the spin-off of
100% of the shares of PMI to Altria's shareholders. The distribution
will be made on March 28, 2008, to Altria's shareholders of record as
of 5:00 p.m. New York City Time on March 19, 2008 (the "record date").
Altria will distribute one share of PMI stock for every share of
Altria common stock outstanding at 5:00 p.m. New York City Time on the
record date.
An Information Statement with details about the PMI spin-off will
be mailed to shareholders as of the record date. Additional
information including answers to frequently-asked questions (FAQs) are
available on Altria's investor website at www.altria.com/pmispinoff.
The New York Stock Exchange (NYSE) has authorized the listing of
PMI common stock on the NYSE. The stock will trade on the NYSE under
the symbol "PM" following the spin-off.
Altria has received a private letter ruling from the U.S. Internal
Revenue Service (IRS) and an opinion of counsel that the distribution
of PMI common stock to Altria shareholders qualifies as a tax-free
distribution for U.S. federal income tax purposes.
Non-U.S. shareholders may be subject to tax on the distribution in
jurisdictions other than the U.S. It is extremely important that
shareholders consult their tax advisors regarding the particular
consequences of the distribution in their situation, including the
applicability and effect of any U.S. federal, state, local and foreign
tax laws.
Registered Altria shareholders in the U.S. and Canada will receive
a statement from Computershare Trust Company (Computershare), the
distribution agent, reflecting ownership of shares of Altria and PMI.
For additional information, registered shareholders in the U.S. and
Canada should contact Computershare by email at
altria@computershare.com or by phone at 1-866-538-5172. Registered
shareholders outside the U.S. and Canada should call 1-781-575-3572.
Holders of Altria shares through a broker, bank or other nominee
will have their brokerage account electronically credited with the
shares of PMI. For additional information, these holders should
contact their financial institution directly or call D.F. King & Co.
at 1-800-290-6431.
CONTACT: Altria Group, Inc.
Nicholas M. Rolli, 917-663-3460
SOURCE: Altria Group, Inc.
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