Club Med to Be Taken Over by AXA and Chinese Investor

Club Mediterranee's top shareholders plan to take over the French holiday firm in a bid that values it at around 541 million euros ($700 million), to accelerate its shift to fast-growing emerging markets.  Chinese investor Fosun International and AXA Private Equity said on Monday they would team up with management to offer 17 euros a share for the stock they do not already own - a 23 percent premium to Friday's closing price.

Chinese investor Fosun International and AXA Private Equity will team up with Club Med management to take over the company at $17euro per share.

Reuters reports that Club Mediterranee’s top shareholders plan to take over the French holiday firm in a bid that values it at around 541 million euros ($700 million), to accelerate its shift to fast-growing emerging markets.

Chinese investor Fosun International and AXA Private Equity said on Monday they would team up with management to offer 17 euros a share for the stock they do not already own – a 23 percent premium to Friday’s closing price.

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