|
RCH
RCH
Richemont Sells Its `Old England" Subsidiary
Richemont Securities AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
("Richemont")
PRESS RELEASE
21 March 2006
RICHEMONT SELLS ITS `OLD ENGLAND" SUBSIDIARY
Richemont, the Swiss luxury goods group, announces that it has entered into an
agreement with Tercade SA, a holding company controlled by Mr Olivier Goldberg,
for the sale of its interest in its subsidiary, Old England SA. The transaction
will have no material impact on Richemont"s balance sheet, cash flow or results.
Based in Paris, Old England operates a flagship department store on Boulevard
des Capucines as well as stores in Lyon and Toulouse. It also has a number of
points of sale in Japan. The Old England stores feature the best of English
design in terms of clothing and accessories.
Richemont owns a portfolio of leading international brands or `Maisons", which
are managed independently of one another, recognising their individuality and
uniqueness. The businesses operate in five areas: Jewellery Maisons, being
Cartier and Van Cleef & Arpels; Specialist Watchmakers, which is made up of
Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine
Panerai and A. Lange & Sohne; Writing instrument manufacturers - Montblanc and
Montegrappa; Leather and Accessories Maisons, being Alfred Dunhill and Lancel;
and Other Businesses, which includes, specifically, Chloe as well as other,
smaller Maisons and watch component manufacturing activities for third parties.
In addition to its luxury goods business, Richemont holds an 18.6 per cent
interest in British American Tobacco plc.
Further enquiries: Mr Alan Grieve
Director of Corporate Affairs
Tel. +41 22 721 3507
Analysts" inquiries: Ms Sophie Cagnard-Fabrici
Head of Investor Relations
Tel. +33 1 5818 2597
Compagnie Financiere Richemont SA
50 Chemin de la Chenaie
CH-1293 Bellevue, Geneva
Switzerland
Tel: +41 (0)22 721 3500
Fax: +41 (0)22 721 3550
www.richemont.com
22 March 2006
Sponsor
RAND MERCHANT BANK
(A division of FirstRand Bank Limited)
Date: 22/03/2006 08:17:04 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| 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 ] | |||||||||||||
|
|||||||||||||
