REFILE-BRIEF-British American Tobacco reaches $575 mln litigation settlement

Fri Dec 19, 2014 2:26am EST
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(Removes Inmarsat Plc ticker)

Dec 19 (Reuters) - British American Tobacco Plc

* British American Tobacco Plc Subsidiary, Imperial Tobacco Canada Limited (Imperial Tobacco), reaches agreement

* Imperial Tobacco has reached an agreement in principle with Flintkote company (Flintkote) - for a total of $575 mln

* Under terms of proposed settlement, Imperial Tobacco will obtain protection from current and potential future Flintkote related asbestos liability claims in United States

* Today's agreement in principle of dividend claims and asbestos related liabilities, brings this long running litigation to an end

* Litigation also seeks to hold Imperial Tobacco liable for Flintkote's asbestos liabilities

* In order to finalise settlement, approval by bankruptcy court in Delaware and district court will be required

* Approval expected to take place in 2nd qtr or 3rd qtr of 2015 Source text for Eikon: Further company coverage: