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Strategic Holdings lifts Club Med stake above 10 pct
May 20, 2014 / 8:41 AM / 4 years ago

Strategic Holdings lifts Club Med stake above 10 pct

PARIS, May 20 (Reuters) - A fund led by Andrea Bonomi further raised its stake in Club Mediterranee to above 10 percent, three days ahead of the closure deadline for a takeover offer for the French holiday firm that the Italian businessman opposes.

Bonomi-led Strategic Holdings bought an additional 427,635 Club Med shares at 18.96 euros each on May 19, raising its total stake to 3.36 million shares, stock market watchdog AMF said.

Based on data on Club Med’s website, Strategic Holdings now holds 10.5 percent of Club Med’s capital, clouding prospects for a takeover offer launched a year ago by China’s Fosun International and French private equity firm Ardian via an investment vehicle called Gaillon Invest. (Reporting by Dominique Vidalon; Editing by James Regan)

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