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Chinese firm wins bidding war for Club Med

from RCI Ventures

Chinese giant Fosun has secured control of Club Med after a two-year bidding war. The price offered to shareholders values the French all-inclusive operator at €939 million. Fosun used a special investment vehicle, Gaillon Invest, to conduct its bid, and became the sole bidder for the well-known brand after its rival, the Italian tycoon Andrea Bonomi pulled out of the race. more

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