JAPAN Tobacco International (JTI) on Thurs-day confirmed it was in talks with Mighty Corp. regarding the sale of the local cigarette maker’s manufacturing and distribution business and assets, but clarified there was no formal agreement yet between the companies.

“We can confirm that we have entered into exclusive talks with Mighty Corp. on the sale of its cigarette manufacturing and distribution business and assets,” JTI said in a statement released on Thursday.

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