British American Tobacco (BAT) has announced the sale of its business in Russia and Belarus

The cigarette manufacturer British American Tobacco (BAT) has announced the sale of its Russian and Belarusian businesses.

This was announced in a statement by the company.

The buyer is a consortium led by members of BAT Russia's management team, which will wholly own both businesses upon completion.

The transaction is expected to close within the next month, subject to certain conditions. Following completion, BAT will no longer have a presence in Russia and Belarus and will not benefit financially from ongoing sales in these markets.