Factbox - Activist investor Elliott's top European holdings

(Reuters) - U.S. activist hedge fund Elliott Management announced on Wednesday that it had taken a 1.2 billion euro (£1.04 billion)stake in German technology company SAP.

Here are some of New York-headquartered Elliott’s top holdings in Europe (in alphabetical order):

AC Milan:

- Lent 300 million euros to China’s Li Yonghong in March 2017 to fund the acquisition of players and bank debt repayments at Italian football club AC Milan

- Elliott took control of the team in July 2018 after Li defaulted on his obligations towards the club

Akzo Nobel:

- 3 percent stake revealed in March 2017

- Elliott had 9.5 percent at last report and has agreed to support management’s current strategy after PPG’s failed approach in 2017

Banco BPM:

- BPM agreed to sell up to 7.8 billion euros ($8.8 billion) in bad loans along with a stake in its debt recovery business to Credito Fondiario and Elliott on Dec. 10

- Feb. 6: Elliott to underwrite 95 percent of equity tranche in Banco BPM’s 7.4 billion euro ‘ACE’ bad loan securitisation sale.


- Stake of under 3 percent revealed by Reuters in December 2018

BHP Billiton:

- 4.66 percent stake disclosed on April 10, 2017

- Elliott called for the company to sell off its oil business and ditch its dual listing structure

Credito Fondiario:

- Elliott became an investor in the Italian bank and bad loan specialist in 2016

- Raised stake to 81.6 percent in 2018 after buying into a reserved capital increase and converting some shares


- 0.94 percent stake in the airport retailer disclosed on Dec. 20, 2017

Fidessa Group:

- 4.0967 percent stake in the British software firm revealed on Feb. 21, 2018

GEA Group:

- 3.01 percent stake in German food processing company revealed on Oct. 11, 2017

- Elliott’s stake is now 5 percent


- 3.8 percent stake disclosed on Jan. 15

- Pressured GKN to engage in takeover talks with potential acquirer Melrose Industries before deal went ahead


- 1.53 percent stake disclosed on April 20, 2018

- 2.03 percent stake disclosed on April 25, 2018

- Feb. 25, 2019: Elliott gives backing to company plan to sell assets, cut debt and expand its board.


- A 6.1 percent stake in the Dutch trust and business administration company was disclosed on Feb. 13, 2019.

Micro Focus:

- 5.1 percent stake confirmed by Elliott on April 23, 2018

Pernod Ricard:

- 2.5 percent stake disclosed on Dec. 12, 2018

- Asked board to consider its analysis and views on value creation.

- On April 18, 2019: Pernod raises its profit outlook.

- Company says having regular “courteous” talks with Elliott.


- Stake trimmed marginally to 7.8 percent on April 18, from 7.9 percent on March 21.

- Comes amid takeover bid for RPC from plastics maker Berry Global Group.


- Elliott announces a 1.2 billion euros stake in the German technology company.

- Says it supports the push by SAP management to sharpen operational execution.


- 2.8359 percent stake revealed in a UK filing on Jan. 26, 2018

- Argues Sky is worth more than $34 billion

- Elliott dissolved its stake on Sept. 25, 2018

SLM Solutions

- 29.8 percent stake in German 3D printing firm disclosed on April 3, 2019.

- Elliott had invested in SLM in 2017 in anticipation of a takeover by General Electric, but was wrong-footed as GE turned to peer Arcam instead.


- 3.6 percent stake in German pharmaceutical company revealed on July 6, 2017

Telecom Italia:

- 8.85 percent stake disclosed on March 5, 2018

- Explainer on Telecom Italia governance tussle:

- March 29, 2019: Vivendi drops bid for Telecom Italia board reshuffle.


- Stake of less than 3 percent revealed in May 2018 by Elliott

- Elliott said it believed the company had significant scope for operational improvement which would benefit all stakeholders

- Jan. 24, 2019: Elliott doubts merits of plan to split company in two


- 2.4 percent stake in German energy company announced on Dec. 5, 2017

- Elliott’s position is now 16.5 percent

- March 19, 2019: Uniper says Elliott’s voting rights now at 6.39 percent; total stake unchanged at 17.84 percent.

- March 21: Elliott calls for shareholder vote to push Uniper management to discuss deal with Fortum.


- Book retailer acquired by Elliott on April 26, 2018, price undisclosed


- 6 percent stake revealed on April 14, 2018

- Whitbread said on April 25 it would spin off Costa Coffee after pressure from Elliott and other investors

Reporting by Maiya Keidan, Carolyn Cohn, Simon Jessop and Valentina Za, additional reporting by Sudip Kar-Gupta, Toby Sterling and Edward Taylor; editing by Jason Neely and Elaine Hardcastle