The Italian businessman Andrea Bonomi waives outbid in the battle for the takeover of the French group of resorts.
Too expensive! The latest escalation of the Chinese group Fosun was right ambitions Andrea Bonomi. The Italian investor decided “not to continue (her) investment in Club Méditerranée”. The endless takeover battle for tourism group control is going to be completed, nearly two months after the first offer of Fosun
Since December 20, Fosun. – Fan from the beginning of a tactical outbidding a minima that some have dubbed “Chinese torture” – offers 24.60 euros per share of the Club. This values the company of some 939 million euros. This is 45% more than what it offered in June 2013.
The Chinese Fosun will pay 45% more than what it offered in June 2013
The effort has had to make Fosun to finally seize the Club will put pressure on the company to make the investment of its new shareholder, which focuses on both the upgrading of the company and its development in the Chinese market.
But Friday night, it was time for relief after the abandonment of Andrea Bonomi. The direction of the club, starting with its CEO, Henri Giscard d’Estaing, has always defended the Chinese offer. Welcomed the near constancy of the forehead that the Club, its board and its management have opposed the Italian. It has in any case decided to permanently leave the party, as he said he would bring his titles (over 18% of capital) to Fosun or sell them on the market. Suffice to say it is far from losing everything as it prepares to collect a profit.
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