Facelift for Ferruzzi
Article Abstract:
Gemina aims to control Ferruzzi creating an industrial group ranking second in Italy. Gemina is controlled by Mediobanca and the Agnelli family which controls Fiat. Ferruzzi holds 30% of Montedison which is the biggest chemicals concern in the private sector in Italy. Gemina's new activities will include sugar, publishing and sportswear. Gemina will almost control over 20% of newspapers in Italy, and a legal limit exists of 20%. Little opposition is expected from the European Community to this operation.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Ship with no rudder
Article Abstract:
Suez is seeking a new chairman to unite the board which is divided into two factions. Gerard Worms, the outgoing chairman, found his position was not tenable, but he could continue if no candidate materialises by the end of Jul 1995. The head of UAP, Jacques Friedmann, removed Worms in Jul 1995, and UAP had planned a merger involving Suez, BNP and UAP. Worms had opposed this move and has enough backing from the board of Suez to prevent it from taking place.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Power struggle
Article Abstract:
Compagnie de Suez faces a revolt by shareholders and criticisms of Gerard Worms, chairman, from other directors on the Suez board. Banque National de Paris (BNP) holds a 5% stake in Suez, and has sought the help of UAP to develop stronger links between BNP, UAP and Suez. Worms is seeking to retain Suez' independence. Worms has invited Pinault Printemps Redoute to acquire a stake in Suez, using a share swap. This is opposed by some of Suez' shareholders.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
User Contributions:
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