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Tobacco and nicotine products maker Swedish Match plans to spin off its U.S. cigar business to shareholders and list it on the stock market, the company said. A spin-off would mean that Swedish Match, which sold its cigarette business in 1999, exits the combustible tobacco products segments. “Swedish Match has initiated preparations for a separation and a subsequent listing on a major U.S. securities exchange,” it said in a statement on Tuesday. “The separation is expected to be completed during the second half of 2022, at the earliest.”