Activist Investors Push for Ownership Change at Brazil’s Atento

A group of minority shareholders led by London hedge fund Kyma Capital and ex-Zephyr Management LP principal Charles Frischer is ramping up pressure on the owners of Brazilian call center giant Atento to sell the company in an open and competitive process.

The group, which holds 9.1% of Atento’s outstanding shares, has sent the company a letter -- seen by Bloomberg -- saying they will try to nominate three independent directors to Atento’s board at the upcoming shareholders meeting in May “to ensure a full and transparent sales process.” Atento is said to have appointed Goldman Sachs Group Inc. to ...