Activist Bluebell Asks Glencore to Separate Its Coal Mines
- Bluebell says thermal coal is stopping some from investing
- The hedge fund wrote its demands in a letter to the company
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Activist hedge fund Bluebell Capital Partners has asked Glencore Plc to separate its thermal coal business because it has become a barrier to investment.
The hedge fund firm said that the commodities giant could realize more value for shareholders if it separates that business, simplifies its asset base, disposes of non-core asset Viterra, and tackles governance issues. Bluebell’s partners Giuseppe Bivona and Marco Taricco made the demands in a letter to the company, a copy of which was seen by Bloomberg.