Bristol-based Imperial Tobacco has confirmed it plans to float off its Spanish distribution business Logista.
Madrid-based Logista distributes Imperial’s cigarettes along with other those of rivals and other consumer products across Southern Europe. 
Last year it recorded revenue of £8.3bn and an adjusted operating profit of £176m.
In February Imperial, whose brands include Lambert & Butler, Davidoff and JPS, said it was considering Logista’s future and was conducting a review of its operations.
Imperial took over Logista when it bought Altadis, the Spanish maker of Gauloises and Gitanes cigarettes, in 2008.
