February 2, 2018 / 9:52 AM / in 5 months

Top Elior shareholder BIM reduces stake

PARIS, Feb 2 (Reuters) - Robert Zolade, top shareholder in French caterer Elior, has reduced his stake via holding BIM to 23.07 percent, BIM said on Friday.

BIM sold a 4.24 percent stake to Fonds Strategique de Participations (FSP) for an undisclosed amount, it said.

It still supports Elior’s strategy and CEO Philippe Guillemot, who was appointed in December, BIM said.

Zolande is honorary chairman of Elior and sits on its nine-member board as BIM’s representative. Sofibim, another entity controlled by Zolade, also has a board seat.

Following the stake sale, Sofibim will not ask for a renewal of its board seat at the next AGM on March 9, freeing up the seat for an independent board member, it said.

Elior, Europe’s third-largest catering group, issued a profit warning in December and named Guillemot as CEO. .

In January it reported a 6.3 percent rise in first quarter revenue and confirmed it guidance for fiscal year 2017/18.

Elior shares were down 1.83 percent at 18.23 euros at 0945 GMT. They are up nearly 8 percent this year.

Reporting by Dominique Vidalon; editing by Jason Neely

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