The Johann Rupert-controlled international investment firm Reinet may decide to sell more of its holdings in British American Tobacco (BAT), the world’s largest producer of cigarettes, to raise financing for opportunities that might arise due to the current market volatility, according to BusinessLive.
In response to the increasing market volatility, Reinet has already significantly reduced its debt to ensure that the company is “flexible and reactive” and is looking to build up its financial war chest through various means such as trimming down stakes in companies where it already has considerable positions .
Reinet Investments S.C.A. is a Luxembourg-based investment vehicle that was demerged from the Swiss luxury goods giant Richemont in October 2008. It is listed on the Luxembourg Stock Exchange, and at 2020 is the third-largest component of the LuxX Index.
Rupert and his family own an estimated 24.9-percent stake in the company.