By Ed Ballard
LONDON-- British American Tobacco PLC has agreed to settle a
long-running dispute over dividend payments and asbestos claims
with Flintkote Co. for $575 million.
Flintkote, a U.S. company that formerly sold products containing
asbestos, sued British American Tobacco's Canadian subsidiary in
2006 over issues stemming from its acquisition of Genstar Corp.,
Flintkote's parent company.
"Friday's agreement in principle of the dividend claims and the
asbestos-related liabilities, brings this long-running litigation
to an end," British American Tobacco said in a statement.
Under the terms of the proposed settlement, British American
Tobacco said it would obtain protection from current and potential
future Flintkote-related asbestos-liability claims in the U.S.
Write to Ed Ballard at ed.ballard@wsj.com
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