Reinet Investments

Last updated

Reinet Investments S.C.A.
Type Public
LuxSE:  REIN
Industry Finance
Founded20 October 2008
Headquarters35, boulevard Prince Henri, Luxembourg City, Luxembourg
Area served
Luxembourg
Key people
Johann Rupert, Executive Chairman
Services Investment, private equity
Website http://www.reinet.com/

Reinet Investments S.C.A. is a Luxembourg-based investment vehicle that was demerged from the Swiss luxury goods company Richemont on 20 October 2008. [1] It is listed on the Luxembourg Stock Exchange (LuxSE), and at 2020 is the third-largest component of the LuxX Index.

Contents

History

Upon formation, Reinet controlled €350m in cash, €50m in miscellaneous investments, and a 4% stake (84.3 million shares) in British American Tobacco (BAT). On the first day of Reinet trading, BAT's share price opened at £17.31, [2] valuing Reinet's stake at £1.46bn (€1.88bn). [3] The formation of Reinet allowed the Rupert family to spin off all non-luxuries related activities, and allow Richemont to focus purely on its core investments. [4]

In January 2009, Reinet entered into negotiations to purchase the private equity business of Lehman Brothers, [5] which is now known as Trilantic Capital Partners.

Investment Strategy

Reinet states that its investment strategy is to take a long-term view of investment opportunities, to invest in a wide range of asset classes (including listed and unlisted equities, bonds, real estate and derivative instruments), while emphasis will at all times be on the protection of shareholders' capital. [6]

The company does not publicise a list of its investments other than in BAT.

See also

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References

  1. "Reinet Formation". Reinet Investments. Retrieved 18 January 2009.
  2. "Historical Share Prices". Yahoo! . Retrieved 18 January 2009.
  3. "GBP to EUR (GBPEUR=X)". Yahoo! . Retrieved 18 January 2009.
  4. "About Reinet Investments S.C.A". Reinet Investments. Retrieved 18 January 2009.
  5. Saitto, Serena (9 January 2009). "Lehman Said to Be in Talks to Sell Fund to Managers, Reinet". Bloomberg L.P. Retrieved 18 January 2009.
  6. "Reinet Investments S.C.A. - Investment Strategy". Company website.