Opa Bonomi at 21 euro ends September 19. Council on Monday to review the new proposal
Milan , September 13, 2014 – 8:42
The contest for the Club Med continues with a new offer launched by Guo Guangchang, the Chinese billionaire who for more than a year trying to take control – with the blessing of the French management – holiday villages ‘package’ founded in 1950 as “Club Méditerranée” by Gilbert Trigano. The Chinese Fosun Group is now offering 22 euro per share, compared with 21 industrial investor Italian Andrea Bonomi. On Monday, the Board of Directors of Club Med will meet to assess the news, waiting for the reaction of Bonomi, who has two months (until November 13) to counter.
previous offer of the consortium which was part of Fosun stopped at 17 euro and 50, and was supported by the fund equal to the French Ardian (ex Axia Private Equity): President of Club Med, Henri Giscard d’Estaing, then had an argument for defending the ‘Frenchness’ of the group.
Proposal
Today, that foothold fails, because the new proposal of the Chinese Fosun are players with 93%, while the rest of the capital would be shared between Ardian (retainer to about 5%) and the current leadership of the group (about 2%).
The consortium sees Fosun now in a dominant position, with new allies such as the Chinese travel agency U-Tour (which already distributes products Club Med) and the insurance company Fidelidade Portuguese (subsidiary of Fosun).
This confirms the basic strategy, summarized by Henri Giscard d’Estaing, 57, the man who in 2003 was named by the Agnelli family to revive a club on the verge of bankruptcy, “In today’s challenging tourism market post-September 11 and has low cost or you are the best. Being in the middle is not good. The Club Med was perceived as the most expensive of the villages of the middle range, the worst position. I then decided to close the half of the villages, reinvest in others, and the opening of new facilities. The Club Med should aim for a higher target. Then, the choice of looking at China is imposed by the facts: it is the first tourist market in the world, where we grow by 25% a year. ”
Under the new offer of Fosun’s stay Giscard d’Estaing in the chair of the President and the listing on the Paris Bourse always remain a witness to the roots of French Club Med. Bonomi If you were to bid and win, has already offered the presidency is not operational Serge Trigano, the son of the founder.
September 13, 2014 | 08:42
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