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.
Posted in China, emerging market, European economy, Private Equity
Tagged AXA Private Equity, Christian Jimenez, Club Med, Club Mediterranee, Diamant Bleu Gestion fund, Dominique Gaillard, emerging markets, European economy, euros, Fosun International, France, Henri Giscard d'Estaing, holiday resort, Hong Kong, Michel Wolfovski, Net debt, Paris, Thomas Cook, TUI Travel, Valery Giscard d'Estaing