Altria Plans to Develop Overseas Division in March

The Altria Group reported on Wednesday that it would spin off its international tobacco business on March 28, freeing it to pursue cigarette sales more aggressively outside the United States. The separation could shield the business, Philip Morris International, based in Lausanne, Switzerland, from American legal and regulatory issues. The international unit makes Marlboro, L&M and Bond Street cigarettes; Philip Morris USA makes the Marlboro, Virginia Slims, Parliament cigarettes and Basic cigarette brands for American consumers. Once the spinoff is complete, Altria, which is based in New York, will consist mainly of its domestic cigarette business, Philip Morris USA, and a 28.6 percent stake in the London-based beer company SABMiller, which makes Miller Genuine Draft, Pilsner Urquell and Snow. Altria plans to shut its Park Avenue office and move to Richmond, Va., where Philip Morris USA is based.