PARIS Aug 14 French private equity firm Ardian
and Chinese conglomerate Fosun International said on
Thursday they would withdraw their offer for resort operator
Club Mediterranee after the French regulator gave the
go-ahead for a rival bid.
Gaillon Invest, the investment vehicle of the Ardian-Fosun
alliance, said in a statement it would ask the AMF stock market
regulator to withdraw the offer.
The AMF said on Wednesday that Italian businessman Andrea
Bonomi's offer for Club Med was in line with market rules.
Global Resorts, a company controlled by Bonomi, is offering 21
euros a share for Club Med - a price that values the target at
790 million euros (1.06 billion US dollar), above Gaillon's
year-old offer of 557 million.
(1 US dollar = 0.7483 euro)
(Reporting by James Regan; Editing by Miral Fahmy)