The Mystery Owner of Cuban Cigars Has a Name

For six years the industry has known that Imperial's old handmade cigar empire was sold to unnamed East Asian buyers; one turned out to be Chen Zhi, the alleged crypto-scam kingpin now in Chinese custody, facing a possible death sentence. The other owner now has a shape. Corporate records point to Renovaire Group Holding, an Abu Dhabi vehicle whose directors share addresses with entities tied to Sheikh Tahnoun bin Zayed Al Nahyan, the UAE national security advisor who chairs over a trillion dollars of sovereign wealth. Spanish press says the minority camp wants to buy Chen's stake, now in liquidation. The same private equity circle already quietly owns Tabacalera USA, parent of Altadis U.S., JR Cigar, and the Casa de Montecristo lounges. If the pieces consolidate, one investment shop would control both halves of the Montecristo name and much of the retail plumbing.