The Chinese billionaire Guo Guangchang does not intend to miss the Club Med. In the battle between, since the spring, the Italian businessman, Andrea Bonomi, for the French group’s takeover of leisure and tourism, the owner of the conglomerate Fosun noted, again, Friday 19 December, its offer.
Gaillon II, the investment vehicle set up by Fosun, announced that it now offers 24.60 euros per share to acquire the Club Med.
Mr. Bonomi offered him 24 euros. The new offer values the Club Med Fosun 939 million
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Moreover, when he had said he wanted to leave the Club Med listed security, in particular to preserve French anchor Gaillon now indicates that a delisting could be considered.
The market is waiting Now the new timetable for the bids of the AMF. The listing of Club Med was suspended Friday morning.
Company loss
The battle between Guo Guangchang and Andrea Bonomi led the two rivals to consider a price acquisition that does not have much connection with Club Med’s condition: the group losing money for several years, its 2013-2014 fiscal year is ended with a net loss of 12 million euros.
For the record, in May 2013, Fosun then associated with Ardian funds (formerly Axa Private Equity), had launched an assault on the club with an offer of 17 euros per share.
The offensive Fosun has the support of the leadership of the Club Med and especially the CEO, Henri Giscard d’Estaing, who, however, originally had vowed that his group had to keep a majority capital into French hands
Read also:. Club Med: the difficulties of being judge and jury
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