December 12, 2018 / 1:57 PM / a year ago

Factbox: Activist investor Elliott's top European holdings

(Reuters) - U.S. activist hedge fund Elliott Management announced on Wednesday that it had taken a stake in French drinks maker Pernod Ricard (PERP.PA) worth more than 930 million euros ($1.05 billion).

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 (AKZO.AS):

- 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 making peace with the company’s management over PPG’s (PPG.N) failed approach in 2017

Banco BPM (BAMI.MI):

- Bank said it had agreed to sell up to 7.8 billion euros ($8.84 billion) in bad loans along with a stake in its debt recovery business to Credito Fondiario and Elliott on Dec. 10

Bayer (BAYGn.DE):

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

BHP Billiton BLT.L:

- 4.66 percent stake disclosed in letter from Elliott on April 10, 2017

- 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 with regulators’ approval

Dufry (DUFN.S):

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

Fidessa Group FDSA.L:

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

GEA Group (G1AG.DE):

- 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 (MRON.L) before deal went ahead

Hammerson (HMSO.L):

- 1.53 percent stake disclosed on April 20, 2018

- 2.03 percent stake disclosed on April 25, 2018

Micro Focus (MCRO.L):

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

Pernod Ricard (PERP.PA):

- 2.5 percent stake disclosed on Dec. 12, 2018

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


- 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

Stada STAGn.DE

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

Telecom Italia (TLIT.MI):

- 8.85 percent stake disclosed on March 5, 2018

- Called for six Vivendi-nominated board members to be replaced to improve performance and corporate governance

- Reiterated support for then CEO Amos Genish April 24, 2018

- Elliott-backed independent candidates succeeded in securing two-thirds of TIM board seats in May 2018

- Telecom Italia appointed Luigi Gubitosi, one of the independent directors Elliott appointed to the board, as chief executive on Nov. 18

Thyssenkrupp (TKAG.DE):

- 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

Uniper (UN01.DE)

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

- Elliott’s position is now 16.5 percent


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

Whitbread (WTB.L)

- 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

($1 = 0.8822 euros)

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

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