Richemont in the sights of activist fund Bluebell Capital Partners

Richemont in the sights of activist fund Bluebell Capital Partners

Sumary of Richemont in the sights of activist fund Bluebell Capital Partners:

  • The Swiss luxury giant Richemont is targeted by the activist fund Bluebell Capital Partners, which is demanding that changes be made to its board of directors, the group that owns the Cartier jewelry house announced on Tuesday.
  • The shares of the Swiss group, which generates more than half of its turnover in jewelry but is also active in watchmaking as well as in fashion and accessories, are divided into two classes of shares.
  • B shares are not listed on the stock exchange and represent 9.1% of the capital, quantifies the group on its site.
  • Headquarters of Richemont, in Geneva, designed by the architect Jean Nouvel – Richemont This activist fund requests in particular that the board of directors include a representative of the shareholders who own type A shares, indicates the luxury giant in a brief communicated.
  • The activist fund is also asking for the company’s articles of association to be amended to increase the minimum number of representatives on the board of directors to six and to ensure that holders of A and B shares are equally represented.
  • These proposals will be submitted to shareholders at the next general meeting scheduled for September 7.
  • The board of directors is in the process of taking these proposals into consideration , indicates the Richemont group in the press release, which will speak in due course on these recommendations.

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