Reinet Investments Divests from British American Tobacco
Update: 2025-01-15
Description
Reinet Investments, the investment vehicle of South African billionaire Johann Rupert, has completely sold its stake in British American Tobacco (BAT) for £1.22 billion. This marks the end of the Rupert family's long association with the tobacco industry and represents a strategic shift towards more sustainable investments. The sale reflects growing regulatory pressures and ethical concerns surrounding tobacco, allowing Reinet to diversify into sectors like luxury goods, healthcare, and technology. Reinet's share price increased following the announcement, while BAT's share price decreased, illustrating market reaction to the news. This significant divestment signifies a new era for the Rupert family's investment strategy.
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