(News Bulletin 247) – The stock continues to rise today with a gain of nearly 2% following a rise of more than 7% yesterday evening.
The rise is accelerating as Bloomberg indicated that Bluebell would have entered the capital of the luxury group.
‘The activist fund has reportedly approached management, demanding improved operational performance, particularly from Gucci, as well as organizational changes, acquisitions and a merger with Richemont’ reports Invest Securities following information from Bloomberg.
‘ Bluebell returned last year to the capital of Richemont, but failed to pass resolutions proposed in the GA. Bluebell is a recognized activist fund, with a solid list of winners (Danone, GSK, Bayer) and one might think that the managerial reorganization announced the day before yesterday is a response to its demands,’ indicates the analysis office.
‘ The fund could however have more difficulty adopting decisions modifying the capital structure, the Pinault family, 1st shareholder with 42% of the capital and 59.3% of the voting rights, having reiterated on several occasions its desire to retain control of Kering. Case to follow nevertheless ‘adds Invest Securities.
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