Go to Admin » Appearance » Widgets » and move Gabfire Widget: Social into that MastheadOverlay zone
Australia-based private equity investment manager Lazard Asset Management Pacific has acquired 16.98 million shares in Eutelsat, representing a 7.30 per cent stake in the company.
Lazard apparently bought its stake prior to May 24th on the open market, just days after the satellite operator’s profits warning on May 12th, and the following day’s 30 per cent share price crash.
French stock exchange rules require any purchaser to formally declare their holdings once they pass the 7 per cent threshold. Sources suggest that Lazard is not requesting a Board seat.
Currently Eutelsat has lost almost 50 per cent of its share price value in the past year. It fell an additional 1.75 per cent on June 6th. A year ago Eutelsat’s shares were trading at up to €31.42. June 6th saw them hit a near-bottom of €16.29.
Major Shareholders (as at March 8)
Banque Publique d’Investissement (BPI-France, 26.4 per cent),
Lazard Asset Mgt Pacific (7.30 per cent)*
Fonds Strategique de Participations (FSP, 7 per cent)
China Investment Corp (CIC, 6.7 per cent).
Ed. De Rothschild Asset Mgt (5.21 per cent)
Norges Bank Inv Mgt (2.32 per cent)
Nomura Asset Mgt (1.9 per cent)
T Rowe Price Assoc (1.7 per cent)
Vanguard Group (1.44 per cent)
BlackRock Fund Advisors (1.02 per cent)
BlackRock Inv Mgt (0.84 per cent)
NNIP Advisors BV (0.81 per cent)
*Bought on May 24th