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Richemont: Reinet Distributes 90% Of BAT Stake To Holders 

Jump to full article: Morningstar, 2008-11-03

Intro:

Luxury goods maker Compagnie Financiere Richemont S.A. ( CFR.VX) Monday announced further steps tied to the ongoing spin-off of the minority stake in British American Tobacco Plc (BTI).

Luxembourg-based Reinet Investments SCA, a fund set up under the spin-off transaction, will distribute 90% of its interest in to its shareholders and holders of Reinet Investments depositary receipts.

The distribution is against the cancellation of 86.3% of shareholders' and DR holders' interests in Reinet.

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