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.
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]