Reinet Investments S.C.A. (JSE:RNI)
Reinet (JSE:RNI) was established on 21 October 2008 when the former Richemont SA changed its legal form to that of a partnership limited by shares and adopted the name Reinet Investments S.C.A.
At the same time as it changed its legal status, Richemont SA redeemed its ordinary capital, which was held exclusively by Compagnie Financière Richemont S.A. (JSE:CFR), by way of the distribution to CFR of its entire luxury goods interests. In consequence, CFR became a specifically focused luxury goods company and Reinet was established as an investment vehicle, the principal asset of which was the former Richemont’s interest in British American Tobacco.