Reinet Investments Exits British American Tobacco Stake

Reinet Investments S.C.A. has announced the sale of its shares in British American Tobacco p.l.c. (BAT), marking its complete exit from the company. The transaction involved Reinet's indirect subsidiary, Reinet Jersey Holdings Limited, selling 43.3 million BAT shares at £28.20 per share. The sale, executed via an accelerated bookbuild process, generated gross proceeds of approximately £1.221 billion for Reinet.

Previously, Reinet had already sold 5 million BAT shares in late 2024, raising £148.5 million. This follows the release of 11.1 million shares used as loan collateral, following debt pre-payment. Reinet now plans to use the proceeds for further investment activities.

The transaction, completed with J.P. Morgan Securities as the sole global coordinator, ensures that Reinet and its subsidiaries no longer hold any interest in BAT. BAT will not receive any proceeds from this sale.