Investindustrial, Strategic Holdings could bid for Club Med
PARIS May 26 (Reuters) - Investindustrial Development and Strategic Holdings left the door open on Monday for a possible offer for Club Mediterranee, saying they would first need access to the French holiday group's books before making a decision.
Strategic Holdings, which this month became Club Med's top shareholder with a stake of more than 10 percent, said it could team up with Investindustrial.
Investindustrial said it had been forced by financial regulator AMF regulations to "decide to engage the means necessary for the launching of a possible tender offer for Club Mediterranee, in order to avoid the risk of being blocked from considering a possible offer at a later stage".
The AMF had given Strategic Holdings until 1600 GMT on Monday to clarify its intentions towards Club Med, which is subject to a takeover offer from Chinese conglomerate Fosun and French private equity firm Ardian. (Reporting by Dominique Vidalon; Editing by James Regan)