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Real estate: Xavier Niel's coup de force at the giant Unibail

2020-11-10T20:11:55.095Z

BIG STORY - The boss of Free and his allies succeeded in defeating the management's capital increase. Armed with this victory, they demanded the departure of the chairman of the board.



It was a thunderclap, and a first in the history of the CAC 40. Tuesday, the shareholders of Unibail-Rodamco-Westfield (URW) retoked the strategic plan supported by the management of the giant shopping centers.

The 3.5 billion euro capital increase, which Christophe Cuvillier, Chairman of the Management Board, considers essential to reduce URW's debt?

Rejected by the shareholders, like two of them, Léon Bressler, former boss of Unibail, Xavier Niel, successful entrepreneur, encouraged them for less than a month.

Read also:

Bitter battle for the future of Unibail-Rodamco-Westfield

The appointment of three more members to the supervisory board (Léon Bressler, Xavier Niel and the Spanish businesswoman Susana Gallardo) in order to

"put rationality in its operation"

and to put an end to

"a parody of governance"

?

60% accepted.

The two men, who gradually took a stake in URW until they held nearly 10%, won their bet.

It was Thursday, October 15 that Unibail's story got carried away.

Sitting in the back of his car

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Source: lefigaro

All business articles on 2020-11-10

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