Brunei investor denies report of Club Med bid
A Club Med banner blows in the wind on the dock at the Club Med Beldi vacation resort in Beldibi June 22, 2009.
Credit: Reuters/John Schults
LONDON |
LONDON (Reuters) - Brunei investment firm BMB Group denied a Sunday Times report that it was considering a bid for Club Med (CMIP.PA) that would value the French-listed holiday company at about 800 million euros ($1 billion).
"The BMB Group has not been in discussions with any executive or shareholder of Club Med as implied by the Sunday Times article," spokesman Harold Alby said in a statement on Sunday.
The newspaper, citing sources close to the situation, reported that BMB, an investment office that manages money for the Sultan of Brunei's family, had the support of three of Club Med's four major shareholders.
Talks with the fourth and largest shareholder, Fipar, are expected to be finalized this week, the newspaper reported.
Club Med and the newspaper were not immediately available for comment.
(Reporting by Mark Potter, additional reporting by Paritosh Bansal in New York; Editing by David Holmes and Steve Orlofsky)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters