Issue link: https://read.dmtmag.com/i/1531857
14 tobaccoasia FRONT PAGE NEWS 卷首新闻 Reinet Exits BAT with £1 Billion Stake Sale In a historic decision ending an association spanning nearly 80 years, Reinet Investments, an investment group owned by South Africa's richest man, billionaire Johann Rupert, has announced its full divestment from British American Tobacco (BAT). Reinet plans to sell approximately 2% of its stake in BAT, offering around 43.3 million shares through JPMorgan EVO NXT 2025: Shaping the Future of NGPs in Milan The world of next generation products (NGP) is fast-moving, innova- tive, and brimming with potential. With EVO NXT, Messe Dortmund created a modern forum that does justice to precisely this potential. This business festival will be held for the third time on April 3-4, 2025, this year turning Milan into the undisputed NGP hotspot where vi- sionaries, thought leaders and experts can meet and engage in an atmosphere that is truly unique. EVO NXT 2025 also promises to be a hub of knowledge and innovation, featuring top speakers, industry experts, and prominent figures delivering insightful and engaging presentations as part of its diverse supporting program. Planning for these information-rich ses- sions is already well underway, alongside the steady influx of exhibitor sign-ups. For those seeking comprehensive updates on global mar- ket trends, cutting-edge technologies, and the latest developments in harm reduction, sustainability, and regulatory frameworks, EVO NXT is the place to be. This event will provide a unique opportunity to stay ahead in the rapidly evolving nicotine pouch and NGP sectors. EVO NXT 2025 will once again showcase the diverse world of NGP through four distinct zones, each highlighting a specific sector of the industry. The O-Zone will focus on alternative nicotine prod- ucts like pouches and snus, offering visitors a comprehensive look at this rapidly growing market. Alongside it, the E-Zone will spotlight the latest innovations in e-cigarettes, while the Heat-Zone will center on heat-not-burn products such as tobacco heaters and sticks. The Green-Zone will explore the many possibilities of hemp and its vari- ous applications. Held in the fashionable Italian city of Milan, EVO NXT 2025 is more than just an exhibition. It is a hub of inspiration, a platform for knowledge exchange, a creative forum, and a vibrant network- ing event, all set against the backdrop of a lively music festival. This unique event promises an immersive experience that blends innova- tion with culture and connection. (Contact accounts@octmm.com for more information or visit the website www.evo-nxt.com) Chase & Co., according to Bloomberg. The sale could generate over £1 billion in proceeds. BAT shares dropped by as much as 2.9% after the announcement, marking their steepest intraday decline since October. Investor interest quickly surpassed the available stock after the deal was launched, according to a message obtained by Bloomberg. Luxembourg-based Reinet, established in 2008 following its spin-off from Swiss luxury group Richemont, held a tobacco stake representing roughly a quarter of its net asset value, as reported last year. Reinet plans to allocate the sale proceeds to support its "ongoing investment activity." As of Reinet's most recent reporting date, September 30, 2024, its stake in BAT accounted for 24% of the company's net asset value, representing approximately 48.3 million ordinary shares of BAT. In a separate transaction, Reinet sold 5 million BAT ordinary shares during November and December 2024 through a gradual "dribble-out" process on the London Stock Exchange, generating gross proceeds of approximately £148.5 million. Reinet's exit from BAT marks the conclusion of a significant chapter in the Rupert family's long-standing associa- tion with the tobacco industry. The family's wealth has deep roots in tobacco, beginning with Anton Rupert, who founded the Voorbrand Tobacco Company in the 1940s. Voorbrand later evolved into Rembrandt, a company that entered South Africa's cigarette and tobacco market in 1948 and was listed on the Johannesburg Stock Exchange within a decade. During the 1970s, Rembrandt diversified its portfolio, branching into industries such as financial services, mining, engineering, and food. In 1995, Rembrandt and the Rupert- controlled Richemont consolidated their tobacco assets under Rothmans International, which subsequently merged with BAT a few years later. In 2008, Richemont separated its luxury and non-luxury businesses, spinning off its tobacco-related assets into Reinet Investments, marking a new phase in the Rupert family's business legacy. PMI C.E.O. Admits Teens May Always Try Products Philip Morris International (PMI) c.e.o. Jacek Olczak acknowl- edged that the company may never fully prevent teenagers from trying its products. Speaking in an interview with Bloomberg, Olczak said, "The unfortunate thing is that with young people, there is an element of experimentation. It doesn't matter which country. This age is about experimentation, and they will experiment with the things the adults are doing." He also shared that his own 16-year-old son is curious about nicotine, adding, "You have to understand that 'zero' will not exist." A year into his role as PMI c.e.o, Olczak made a bold move, acquiring rival nicotine pouch maker Swedish Match for US$16 billion. He was particularly interested in Swedish Match's extensive US distribution network and the popular Zyn nicotine pouches. Zyn's demand has skyrocketed, with the company expected to sell 580 million tins in the US this year, up from 385 million last year. This acquisition is part of Olczak's broader EVO NXT 2025 in Milan, Italy will provide a unique opportu- nity to stay ahead in the rapidly evolving NGP sector. Credit: Messe Dortmund GmbH