Investindustrial fund mulls Club Med bid

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light_dark_depth_sea_170sqAndrea Bonomi’s private equity vehicle Investindustrial fund is mulling a buyout offer for French holiday group Club Med.

Investindustrial fund said it will take five weeks to review Club Med’s books before making a decision to bid for the company, which accepted a sweetened bid of €17.50 per share from French private equity firm Ardian and Chinese group Fosun in June last year.

The fund could team up with Bonomi’s investment company Strategic Holdings, which currently holds an 11 per cent stake in Club Med.

Earlier this month French regulators extended the closing date for Club Med’s buyout by Ardian and Fosun to June 6.

The regulators also asked Strategic Holdings to clarify its intentions by May 26.

Strategic Holdings previously said that it would not support the offer from Ardian and Fosun.

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