A few days after their resounding victory at the Unibail AGM, the activist shareholders of the shopping center giant, Léon Bressler and Xavier Niel, on Friday won another crucial fight on the supervisory board.
The first, head of Unibail from 1992 to 2006, was elected president of this body, which gives him full powers over a group in difficulty.
With more than 20 billion euros in debt, Unibail has seen its market capitalization melt since the takeover of Westfield in 2017. After a sharp rebound this week, it remains below 7 billion euros.
Real estate: Xavier Niel's coup de force at the giant Unibail
Tuesday, at the general assembly, the direction knew a double failure: on the one hand, its plan of increase of capital of 3.5 billion euros did not obtain the two thirds of the votes required;
on the other hand, Léon Bressler and Xavier Niel, who campaigned against this project on October 15 with 5% of the capital, were largely elected to the supervisory board, like their acolyte Susana Gallardo.
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