PARIS, June 2 The takeover battle for Club
Mediterranee intensified on Monday after the French
holiday resort operator agreed to open its books to a new
potential bidder, Investindustrial, a fund led by Italian
businessman Andrea Bonomi.
Club Med is already being courted by French private equity
firm Ardian and Chinese conglomerate Fosun International
, which together have made a 557 million euro ($758
million) offer for the French operator.
Club Med said it had given Investindustrial access to its
books but emphasised in a statement that this did not amount to
an opinion on any potential bid that might be submitted.
French market regulator AMF last week gave Investindustrial
until the end of June to make a rival bid for Club Med and on
Monday it said it would not set a closing date for an offer from
Ardian and Fosun until Bonomi had decided whether he would make
a counter bid.
The watchdog had asked for clarity on Bonomi's intentions
towards Club Med after one of his funds, Strategic Holdings,
became the company's top shareholder last month with a stake of
more than 10 percent.
Gaillon Invest, the investment vehicle behind the
Ardian-Fosun bid, last week said that it did not plan to raise
its takeover offer for Club Med despite a possible higher rival
Gaillon Invest declined to comment after Club Med's
statement on Monday.
Club Med shares, which have gained 13.5 percent since Jan.
1, closed barely changed at 19.20 euros valuing the company at
634 million euros.
($1 = 0.7349 Euros)
(Reporting by Astrid Wendlandt; Additional reporting by
Matthieu Protard; Editing by David Goodman)