Arab Today, arab today chinese french bidders raise price for club med
Last Updated : GMT 15:39:54
Arab Today, arab today
Arab Today, arab today

Chinese, French bidders raise price for Club Med

Arab Today, arab today

Arab Today, arab today Chinese, French bidders raise price for Club Med

Paris - AFP

The Chinese group Fosun and a French investment fund have raised their bid for up-market holiday firm Club Mediterranee and the board has voted for acceptance, the firms said on Tuesday. Fosun and French group AXA Private Equity, already the two main shareholders, raised their bid to 17.5 euros per share from 17.0 euros which small shareholders had objected was not enough. Club Med, as the company is known, said that its board had voted unanimously on Monday in favour of the friendly offer which values the business at 556.89 million euros ($732 million). Club Med will remain a French company and majority control of its capital will remain in French hands. In raising their terms, the two bidders wanted to calm possible objections in French political circles that the company might come under Chinese control. Club Med is a high-profile player in the French tourism sector which has successfully restructured despite financial crisis in Europe. The company returned to profit in 2011 and has refocused its strategy, going up-market, increasing its international activities and aiming for substantial expansion in China. In Asia, Club Med has been active in Japan for more than 20 years and also operates in Thailand, the Maldives, and in Bali, Indonesia. Fosun, which became a shareholder in 2010, is the biggest shareholder with 9.96 percent of the capita. AXA PE owns 9.4 percent of the shares.  

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*

Arab Today, arab today chinese french bidders raise price for club med Arab Today, arab today chinese french bidders raise price for club med

 



Arab Today, arab today

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*

Arab Today, arab today chinese french bidders raise price for club med Arab Today, arab today chinese french bidders raise price for club med

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
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