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‘Friendly’ bid for Club Med
Two Club Med shareholders have made a "friendly" bid for the company in a deal that values the company at €541 million (£463m).
Club Med shares jumped 23% on Monday after AXA Private Equity and China’s Fosun made the bid.
In a statement, its management board said it "took note of the friendly character of this offer".
It has commissioned a report on the bid by independent analysts before making a final decision.
The company, which operates around 70 resorts worldwide, is looking to reduce European sales and for China to become its second biggest market by the end of 2015.
According to the group’s latest figures, bookings from Europe are falling while sales in the Americas and Asia are rising.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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