Pursuits
Chinese Billionaire Guo Again Outbids Andrea Bonomi for Club Med
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Fosun International Ltd., controlled by Chinese billionaire Guo Guangchang, made another bid for French resort company Club Mediterranee SA that trumps Italian investor Andrea Bonomi, extending the stand-off between the two sides.
The offer of 24.60 euros a share, made along with partners, values Club Med at 939 million euros ($1.15 billion) including convertible bonds, the bidders said in a statement. Bonomi’s Global Resorts group offered 24 euros on Dec. 5, valuing the company at about 915 million euros.