Club Med board accepts improved offer

Club Med board accepts improved offer

The Club Med board has unanimously voted to accept an improved offer for the French all-inclusive resort operator.

This came as China’s largest private conglomerate Fosun and Axa Private Equity, which already own 19.3% of the company’s shares, increased their €17-a-share offer by 3%.

The offer, involving members of the management including chief executive Henri Giscard d’Estaing, values Club Med at €557 million, the Financial Times reported.

Giscard d’Estaing said last month that the buyout would allow the group to continue moving upmarket without pressures stemming from falling bookings by austerity-hit Europeans.

Club Med may be delisted and taken private if there is a 95% take up of the offer.


This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.

More in News