Richemont Securities AG - Richemont sells Hackett Limited to Torreal, S.A.
Richemont Securities AG
(Incorporated in Switzerland)(Registration CH-170.3.013.861-6)
JSE Code: RCH
ISIN: CH0013157380
PRESS RELEASE2 JUNE 2005
RICHEMONT SELLS HACKETT LIMITED TO TORREAL, S.A.
Richemont, the Swiss luxury goods group, announces that it has entered into an
agreement with Torreal S.C.R., S.A., a leading Spanish investment company, forthe sale of its wholly-owned subsidiary, Hackett Limited. The transaction will
have no material impact on Richemont`s balance sheet, cash flow or results for
the year ending 31 March 2006.
Hackett offers a range of men`s clothing and accessories with a unique, Britishflavour both through its own retail outlets and through wholesale distribution
arrangements.
Richemont owns a portfolio of leading international brands including Cartier,
Van Cleef & Arpels, Alfred Dunhill, Montblanc and Lancel as well as prestigiouswatch manufacturers Jaeger-LeCoultre, Piaget, Baume & Mercier, IWC, Vacheron
Constantin, A. Lange & Sohne and Officine Panerai.
In addition to its luxury goods business, Richemont holds an 18.3 per cent
interest in British American Tobacco.The preliminary announcement of Richemont`s results for its financial year ended
31 March 2005 will be released on Thursday, 9 June 2005. As such, no further
comment will be made on the current transaction at this time.
Compagnie Financiere Richemont SA8 Boulevard James-Fazy CH-1201 Geneva Switzerland
Telephone +41 (0)22 715 3500 Telefax +41 (0)22 715 3550
www.richemont.com
02 June 2005Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)Date: 02/06/2005 07:30:03 AM Produced by the JSE SENS Department
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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
