By Katie Reid ZURICH (Reuters) - Swiss firm Richemont (CFR.VX: ), maker of Cartier watches and Piaget jewellery, said it will spin off its stake in British American Tobacco (BATS.L: ) under a revamp prompted by tax changes. Analysts welcomed the move, noting Richemont trades at a discount to peers partly because some investors shun firms which deal in tobacco or alcohol. Richemont, controlled by South Africa's billionaire Rupert family, will repackage its luxury business as a Swiss-listed company to be called Compagnie Financiere Richemont (CFR). Lehman Brothers (LEH.N: ) advised the family on the deal, which will see Richemont will spin off a 30.1 percent stake in BAT it holds with South Africa's Remgro (REMJ.J: ) via a joint Luxembourg vehicle called R&R Holdings. Ninety percent of the stake will be given to shareholders...
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