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Private Equity Firm Not Sure Yet If Club Med Is Its Idea of Happiness

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Italian private equity honcho Andrea Bonomi’s got a couple of weeks to decide how much crazy signing he’s willing to do to keep the Club, purged of proletarians, out of the hands of the Chinese.

The battle for French resort operator Club Méditerranée intensified Monday with a private-equity fund run by Italian businessman Andrea Bonomi saying it was considering a takeover bid, challenging a Chinese-led rival offer.

Mr. Bonomi's Investindustrial fund will make a decision on whether it will seek to take over Club Med after reviewing its books for five weeks and securing the support of Club Med's board, it said in a written statement….

Chinese conglomerate Fosun International Ltd. in tandem with investment firm Ardian, moved a year ago to take over the rest of Club Med they don't already down for €17.50 ($23.85) a share, an amount much higher than the market price at the time. The offer valued Club Med at €558 million ($761 million).

Private Equity Fund Considering Takeover Bid for Club Med [WSJ]
Bonomi fund has until June 30 to bid for Club Med [Reuters]

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