|
REI
REI
REI - Reinet Investments S.C.A. Depositary Receipts - Reinet to back management
buyout of elements of the former Lehman Brothers Merchant Banking Business
Reinet Investments S.C.A. Depositary Receipts
issued by Richemont Securities AG
(Incorporated in Switzerland)
ISIN: CH0045793657
Depositary Receipt Code: REI
REINET TO BACK MANAGEMENT BUYOUT OF ELEMENTS OF THE FORMER LEHMAN BROTHERS
MERCHANT BANKING BUSINESS
Reinet Investments S.C.A. announces that its wholly-owned subsidiary Reinet Fund
S.C.A. F.I.S. (together "Reinet") and the management team of Lehman Brothers
Merchant Banking (`LBMB`) have entered into an agreement with the Lehman
Brothers bankruptcy estate for the purchase of certain parts of the business of
LBMB with respect to the management of two private equity funds currently known
as Lehman Brothers Merchant Banking Partners IV LP and Lehman Brothers Merchant
Banking Partners IV (Europe) LP (together the `Funds`).
The transaction is subject to various regulatory approvals, as well as the
approval of the limited partners of each of the Funds.
As part of the proposed transaction, Reinet will commit up to $230 million to
both existing and new investments in the Funds over the remaining three and a
half year investment period. Reinet will also participate in the consideration
of all future investments by the Funds. As indicated on 12 January 2009, the
transaction is expected to have no material impact on the net asset value of
Reinet.
About Lehman Brothers Merchant Banking
LBMB manages funds that seek significant long-term capital appreciation through
direct investments in established operating companies in partnership with
management. The funds invest in companies with sound business fundamentals,
proven operating teams and a compelling business strategy. Since 1986, LBMB has
raised and managed four institutional funds and several employee investment
vehicles, with total committed capital in excess of $8.0 billion.
To date, the Funds have made investments of some $ 800 million in aggregate.
Further commitments by limited partners to invest in the funds currently amount
to some $1.7 billion.
About Reinet
Reinet Investments S.C.A. is a partnership limited by shares incorporated in the
Grand Duchy of Luxembourg. Reinet Investments holds the entire ordinary share
capital of Reinet Fund S.C.A. F.I.S., a specialised investment fund holding
assets with an aggregate value currently in excess of Euro2.0 billion. The
investment will be made through Reinet Fund S.C.A. F.I.S.
Reinet shares are listed on the Luxembourg Stock Exchange and Reinet South
African Depository Receipts are listed in Johannesburg on the exchange operated
by the JSE Limited.
Reinet Investments Manager S.A.
for and on behalf of Reinet Investments S.C.A.
Further information: Mr Alan Grieve
Chief Financial Officer
Reinet Investments S.C.A.
Tel: +352 22 7252
Website: www.reinet.com
21 JANUARY 2009
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 22/01/2009 07:05:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
