B.A.T. Industries PLC
(BAT) British American Tobacco Industry, parent company of Brown & Williamson Tobacco Co. in the U.S.B.A.T. Industries PLC (BAT) of London, England was the "Tobacco giant." They were the ultimate parent company of Brown & Williamson Tobacco Corp. and, as of 4/94, The American Tobacco Company (pending anti-trust approval). Brown & Williamson Tobacco Corporation is a subsidiary of BATUS Tobacco Services Inc.; BATUS Tobacco Services Inc. is a wholly-owned subsidiary of BATUS Holdings Inc., which operates as a holding company (1994) (Castano: BWT List of Affiliations 5/27/94). BATUS Holdings Inc. is a wholly-owned subsidiary of South Western Nominees Limited, which in turn is a wholly-owned subsidiary of B.A.T. Industries, P.L.C. (1994) (Castano: BWT List of Affiliations 5/27/94). B.A.T. Industries PLC bought The American Tobacco Company from American Brands Inc. for $1 billion, announced April 26, 1994 (Clarion-Ledger/AP 4/27/94). The agreement between American Brands Inc. and B.A.T. Industries PLC (for the sale of The American Tobacco Company) has a "material adverse change clause"; if the FDA regulated cigarettes and if there were any material change of the distribution and sale of cigarettes, BAT has latitude to reexamine the deal (DJ 6/27/94). B.A.T. stands for British American Tobacco? BAT Industries has a 31% stake in Indian cigarette giant ITC Ltd. (May 1994) (Reuters 5/13/94). BAT owned the Lucky Strike and Pall Mall brands outside the United States before the purchase of ATC (pre-1994) (Agence France 7/13/94).