Richemont targeted by activist fund Bluebell Capital Partners

Sumary of Richemont targeted by activist fund Bluebell Capital Partners:

  • The B shares are not listed on the stock exchange and represent 9.1% of the capital, the group quantifies on its website.
  • They are owned by the Compagnie Financière Rupert, which takes its name from the founding family of the group, who made a fortune with tobacco.The activist fund also asks that the company’s statutes be amended to increase the minimum number of representatives on the board of directors to six and to ensure that the holders of A and B shares are represented equally, the note reads.
  • Bluebell Capital Partners made itself known in particular for a tug-of-war with the pharmaceutical group Also in Switzerland, last year it asked Glencore, the commodity trading giant, to separate thermal coal
  • The proposals will be presented to the shareholders at the next general meeting scheduled for 7 September.
  • The Richemont headquarters in Geneva, designed by architect Jean Nouvel – Richemont This activist fund specifically requests that the board of directors include a representative of the shareholders who own type A shares, the luxury sector giant said in a brief statement.
  • The board of directors is considering these proposals, the Richemont group indicated in the press release, which will decide on these recommendations in due course.
  • The shares of the Swiss group, which generates more than half of its turnover from jewelery, but which is also active in watchmaking, fashion and accessories, are divided into two classes.

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