Italian financial tycoon Andrea Bonomi keeps on buying Club Med’s shares with his private equity veichle Investindustrial and his allies KKR, Sol Kerzner, GP Investments and the management of PortAventura theme park, all partners in the capital of Global Resorts investment veichle.
The latter, together with Strategic Holdings (the investment veihcle controlled by Bi-Invest, the holding company of the Bonomi family), announced yesterday that they now own a 18.9% stake in the shareholders’ capital of the French touristic group and 17% of its voting rights (download here the press release).
The new transaction had been anticipated three days ago by Global Resorts in the same statement where it announced the acquisition of 2.1 millions of Club Med’s shares at a price of 23 euros per share from funds managed by Tyrus Capital Sam and Boussard&Gavaudan (download here the press release and see here a previous post by BeBeez) so that together with Strategic Holdings a 15.9% sake was reached.
Acquisition of new Club Med shares by Global Resorts triggered then an automatic increase of the price offered in Global Resorts’ offer launched last August on Club Méditerranée shares from 21 euro to 23 euro per share and that in turn overtook the 22 euro per share price offered by Chinese conglomerate Fosun and its allies in their current bid for Club Med.
The French Supervisory Authority on Financial Markets (AMF) announced yesterday (download here AMF’s statement) that deadline for both the bids is postponed from November 20th to next December 1st in order to make it possible to Fosun to higher in turn the price of its bid. AMF said it was appying for the first time article 232-12 of its General Regulation (download here AMF’s General Regulation).
Club Med’s share closed at 23.56 euro per share yesterday in Paris (+0,43%).
