(Corrects spelling of Gaillon Invest and Edizione throughout)
PARIS May 16 A fund led by Andrea Bonomi said
on Friday it had raised its stake in Club Mediterranee
, one week ahead of the closure deadline for a takeover
offer for the French holiday firm that the Italian businessman
Bonomi-led Strategic Holdings, whose stake in Club Med stood
at 7.2 percent on May 12, said it had raised the holding to 8.3
percent, clouding prospects for a takeover offer launched a year
ago by China's Fosun International and French private
equity firm Ardian via an investment vehicle called Gaillon
"Andrea Bonomi is hoping to have constructive talks for the
benefit of all shareholders and the company," a spokesman for
Strategic Holdings said.
"He is a long-term shareholder. Assuming the offer does not
go through then they would be one of the biggest shareholders
and then they would like to engage on a constructive basis."
Within minutes, Fosun and Ardian responded, warning Italy's
Benetton family that it could face legal action if it backed out
of a commitment to sell its 2 percent stake in Club Med - as the
family has recently said it would.
"Gaillon Invest ... has indicated that it envisages whatever
legal means are required to ensure execution of commitments made
by Edizione," an investment holding company for the Benetton
family, Gaillon said.
Edizione said on Thursday it was dropping plans to sell that
stake on the grounds that Club Med's share price was now
considerably higher than the offer price from Gaillon Invest.
Club Med shares were trading at 18.84 euros at 1257 GMT,
versus a Gaillon offer of 17.50 euros per share, a price raised
last June from an opening bid of 17 euros.
(Reporting by Cyril Altmeyer and Matthieu Protard; Writing by
Natalie Huet and Brian Love; Editing by James Regan)