Solvay makes peace with its activist shareholder Bluebell

A year after claiming the head of Ilham Kadri, Bluebell Capital buries the hatchet with the managing director of Solvay. The activist fund – which last year was one of the investors having pushed towards the exit Emmanuel Faber, the CEO of Danone– announced its intention to end its campaign against Solvay. He had held a single share in the Belgian chemist for two years, enough to attend general meetings and put pressure on the company. “We have appreciated the recent constructive engagement with Bluebell and I am delighted that we have found common ground,” assures Ilham Kadri, at the head of Solvay for three years.

It had been more than two years since the British fund, which manages 250 million euros in assets, had multiplied its attacks against the chemist. A purely environmental activism, Bluebell having never commented on the financial performance of Solvay. The fund accused Solvay of dumping “chemical and toxic waste” in the…