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Springbok Women determined to topple mighty Canada
Springbok Women captain Nolusindiso Booi said her team will enter Loftus Versfeld with excitement and determination when they face Canada at 13:30 on Saturday.
Reinet is managed by the Ruperts’ general partners, with Johann acting as the executive chairman.
It owns an indirect 49.5% interest in PIC, which is also its largest asset, making up over 50% of Reinet’s Net Asset Value.
The UK-based PIC was founded in 2006 and focuses on secure and socially beneficial investments.
By the end of 2024, it had investments worth £50.9 billion (R1.2 trillion), managing the pensions of nearly 400,000 policyholders.
Following widespread media reports about the possible, the company provided further details on deal.
It confirmed that retirement services group Athora Holdings Ltd is in advanced talks relating to the potential disposal of its interest in PIC.
The group said the proposal implies a consideration payable for 100% of PIC’s fully diluted share capital of £5.7 billion (R135 billion).
This is higher than the up to £5 million (R120 billion) seen in previous reports.
However, Reinet said there is no certainty that any possible transactions contemplated in the announcement will proceed. A further announcement will be made in due course when appropriate.
The deal would mark the second major sale by Reinet after it officially sold its stake in BAT at the end of 2024 and early 2025.
The sale of BAT increased Reinet’s cash and liquid funds, which sit at €1.8 billion (R37 billion), and make up 26.3% of all of Reinet’s investments, increasing from 5.7% a year earlier.
The large amount of cash allows the company to invest in other companies and expand the Rupert empire even further, with large amounts of wealth also seen in its companies Remgro and Richemont.
In the group’s latest financial results, Rupert said that large cash reserves will ensure the group’s ability to meet existing and future investment commitments.
