Club Med: Axa and Fosun launch a friendly takeover bid at 17 euros per share

Axa Private Equity and the Chinese conglomerate Fosun have announced their intention to launch a friendly takeover bid on Club Mediterranee of which they are shareholders with 9,4 and 9,96% respectively. The offer, according to a note, which will be launched together with the management of the French group, will be 17 euros per share, which represents a premium of 28,4% compared to the weighted average price of the share in the last month. Meanwhile, Club Med closed the first half-year with an increase of 7,1% to 18 million euros, thanks to the higher number of summer bookings in advance compared to the same period last year. “Club Med – reads a note – resists in the first quarter in a context of recession in Europe. Bookings on May 18th of this year are 5,5% more than in the summer of 2012”.