Deals
Lastminute.com Faces Investor Pressure After CEO Detention
- Funds push for company to hire advisers for strategic review
- Group plans to update market Nov. 17 on internal probes
This article is for subscribers only.
Lastminute.com NV, one of Europe’s biggest online travel-booking platforms, is facing calls from investors to pursue a sale after some top executives were detained as part of a Swiss investigation.
In recent weeks, Dark Horse Capital Management, Raper Capital and Sage Wealth Management have called on Lastminute to hire advisers for a strategic review. While their stakes are small, several other minority shareholders are supporting them behind the scenes and Swiss proxy advisory firm Ethos said it expects a “complete reshuffle” of the board.