May 16, 2014 / 8:42 AM / in 4 years

Bonomi-led fund ups stake in Club Med to 8.3 pct

PARIS, May 16 (Reuters) - Investment fund Strategic Holdings has boosted its stake in French holiday company Club Mediterranee and hopes to have constructive talks with its management, a spokesman for the fund said on Friday.

The spokesman said that Strategic Holdings, which is led by Italian businessman Andrea Bonomi, owned 8.3 pct of Club Med’s capital at Thursday’s market close and was ready to further increase its stake. That stake stood at 7.2 percent on May 12.

The fund has previously said it would not support a bid for Club Med from China’s Fosun International and French private equity firm Ardian.

“Andrea Bonomi is hoping to have constructive talks for the benefit of all shareholders and the company. 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,” the spokesman for Strategic Holdings said.

Reporting by Cyril Atlmeyer; Writing by Natalie Huet; Editing by Brian Love

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