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Club Med top shareholder says has no plans to control group
May 20, 2014 / 2:47 PM / 4 years ago

Club Med top shareholder says has no plans to control group

PARIS, May 20 (Reuters) - Club Mediterranee’s new top shareholder, Strategic Holdings, plans to continue to buy shares in the French holiday group but does not want to control the company or force a change in its strategy, according to a regulatory filing.

The fund led by Italian businessman Andrea Bonomi is considering asking for representation on the board of Club Med, however, Strategic Holdings said in a letter sent to the AMF watchdog published on Tuesday.

Strategic Holdings, which on Monday raised its stake in Club Med above 10 percent, has agreed a three-year credit facility enabling it to buy additional shares worth 60 million euros ($82 million), according to the filing. ($1 = 0.7289 Euros) (Reporting by James Regan; Editing by Andrew Callus)

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