chinas fosun and partners snap up 928 of club med
Last Updated : GMT 13:01:02
Arab Today, arab today
Arab Today, arab today

China's Fosun and partners snap up 92.8% of Club Med

Arab Today, arab today

Arab Today, arab today China's Fosun and partners snap up 92.8% of Club Med

Chinese conglomerate Fosun
Paris - AFP

Chinese conglomerate Fosun and its partners have snapped up 92.8 percent of French holiday resorts group Club Med, authorities announced Wednesday, closing out a takeover saga that lasted nearly two years.
The provisional results announced by France's Financial Markets Authority (AMF) easily surpassed the 50 percent needed for the public share offering to be considered a success.
However it was less than the 95 percent required to force remaining shareholders to sell, and a new public offer should be announced in the coming days for the remaining shares.
Fosun offered 24.60 euros per share, which values the famous French vacation villages group at around 939 million euros (just over $1 billion).
Fosun -- which has worked with Club Med in expanding its activities in China -- fought a long bidding war against Italian businessman Andrea Bonomi's Global Resorts.
The takeover battle, which began in May 2013, was the longest in the history of the Paris Bourse.
The Gaillon Invest II investment vehicle that bought the Club Med is 91 percent owned by Fosun, with the balance including the French investment firm Ardian and the management of Club Med.
The head of Gaillon Invest II, Jiannong Qiang, welcomed the success of the offer, saying "it brings to a close a period of uncertainty" for Club Med.
He said the investors would support the company's strategy to develop both in France and in emerging markets.
After weathering a rough business climate over the past decade, Club Med has improved its financial health by targeting higher-end clients, particularly among wealthier sections of emerging economies.
According to Club Med figures released in December, 80 percent of the 25,000 new clients the group attracted in 2013 were Chinese or Brazilian.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinas fosun and partners snap up 928 of club med chinas fosun and partners snap up 928 of club med

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinas fosun and partners snap up 928 of club med chinas fosun and partners snap up 928 of club med

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday