Bonomi gets nod on Club Med takeover
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An Italian firm has been given the all clear by the French stock market regulator to take over Club Méditerranée.
Global Resorts, controlled by Italian businessman Andrea Bonomi, was given the go ahead ending the hopes of a rival bid by Chinese conglomerate Fosun and private equity firm Ardian, who withdrew from the running on Thursday.
The parties behind the defeated bids each own 9% of Club Med, while Global Resorts owns more than 10%.
Club Med’s board has valued the firm at around £630 million and backed the Bonomi-led bid for the takeover.
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