| Fri 17 Apr 2009, 7:16 | | REI - Reinet Investments S.C.A. Depositary Receipts - Information on the |
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REI
REI
REI - Reinet Investments S.C.A. Depositary Receipts - Information on the
taxation of South African holders of Reinet depositary receipts on the reduction
of capital of Reinet Investments S.C.A.
Reinet Investments S.C.A. Depositary Receipts
issued by Richemont Securities AG
(Incorporated in Switzerland)
ISIN: CH0045793657
Depositary Receipt Code: REI
Information on the taxation of South African holders of Reinet depositary
receipts on the Reduction of Capital of Reinet Investments S.C.A.
PRESS RELEASE
16 APRIL 2009
LEHMAN BROTHERS` MERCHANT BANKING BUSINESS JOINTLY ACQUIRED BY REINET AND
CURRENT MANAGEMENT TEAM
Reinet Investments S.C.A., through its wholly-owned subsidiary Reinet Fund
S.C.A. F.I.S.,and the current management team of Lehman Brothers Holdings Inc.`s
Merchant Banking business have completed the acquisition of the assets of Lehman
Brothers` Merchant Banking business.Reinet and the management team have created
a new entity, which has been named Trilantic Capital Partners
(`Trilantic`).Trilantic will manage approximately $3.3 billion in portfolio
assets through the two former Lehman Brothers
funds - Fund III and Fund IV (`the Funds`).
Through the transaction, which has been approved by the Funds` limited
partners, Reinet has purchased a 49% stake in Trilantic for $10 million
and will take over Lehman Brothers` $230 million of un-invested limited
partner commitments to Fund IV. The management team will own the remaining
51% of the partnership.
Charles Ayres, former managing director and head of global merchant banking for
Lehman Brothers, will manage the new entity along with his four other partners:
E. Daniel James, Joseph Cohen, Vittorio Pignatti-Morano and Javier Banon.
Johann Rupert, Executive Chairman of Reinet, said:
"Alan Quasha, principal of Quadrant Management and Vanterra Capital,
played the key role in leading the transaction. Without his experience
and diligence the deal would not have closed. Alan will serve on
Trilantic`s Investment Committee. The former Lehman Brothers franchise
and closely knit team provide a strong platform with significant
uncommitted capital at a time of great investment opportunities in the
private equity middle market."
About Trilantic
Trilantic Capital Partners 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, the Trilantic
management team 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 Global and Europe Funds IV 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 a current aggregate value of some
Euro 2 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.
Reinet Investments Manager S.A.
for and on behalf of Reinet Investments S.C.A.
Website: www.reinet.com
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 17/04/2009 07:16:34 Produced by the JSE SENS Department.
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