‘Activist shareholder Shell wants to split up company’

Third Point LLC has outlined this plan in a letter to its own investors, the business newspapers The Wall Street Journal and Financial Times report.

A Shell spokesperson could not immediately respond to the news. Third Point’s press officer did not immediately respond substantively to a request for comment.

One of the largest investors

Third Point recently acquired a stake in Shell worth more than $500 million (converted 430 million euros), the newspaper reports on the basis of insiders. This would make it one of Shell’s largest investors, according to WSJ.

According to Third Point, the split into two companies would provide clarity about the strategy. The two companies would also attract different types of investors.

Clamp between profit and limiting emissions

According to Third Point, Shell is currently caught between the demands of investors who want as much profit as possible from fossil fuels and investors who want Shell to do more to limit greenhouse gas emissions.

Pension giant ABP, with an interest in Shell that was worth 431 million euros last summer, announced yesterday that it would sell this interest within a year and a half. The pension fund will stop investing in oil, gas and coal companies.

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