Three weeks away from a crucial general meeting for the future of Unibail Rodamco Westfield (URW), the leaders of the shopping center giant are responding to the attack by activist shareholders.
Last Thursday, the entrepreneur Xavier Niel and the former boss of Unibail Léon Bressler announced their desire to derail the 3.5 billion euros capital increase project, submitted to the vote of URW shareholders on November 10.
In an interview with
Le Figaro
, Christophe Cuvillier, chairman of the URW management board, and Jacques Stern, vice-chairman of the supervisory board, ensure that the capital increase is vital for the group.
The activists have created a website to present their arguments?
URW's management responds to them by posting a presentation on the group's website to explain theirs.
Shareholders will have the choice between two projects.
Two-thirds of voters will have to approve the capital increase for it to take place.
It will not be easy, when there is no reference shareholder.
The largest is the Blackrock fund, with only 4.01%
LE FIGARO. - Were you surprised by the virulent criticisms of your strategy issued Thursday morning by your predecessors, Léon Bressler and Guillaume Poitrinal?
Christophe CUVILLIER. -
It is the responsibility of a company to prepare for it.
Most surprisingly, one of the activists who today criticizes the strategy
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