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Italy's Bonomi sets out offer for Club Med
June 30, 2014 / 2:40 PM / in 3 years

Italy's Bonomi sets out offer for Club Med

PARIS, June 30 (Reuters) - Club Mediterranee’s top shareholder, Andrea Bonomi, offered to buy the French holiday company in a deal valuing it at 790 million euros ($1.1 billion) that trumps a bid by French private equity firm Ardian and Chinese conglomerate Fosun International.

Investindustrial, the private equity fund led by the Italian tycoon, said it was bidding 21 euros per share for the 64-year-old all-inclusive holiday pioneer, higher than the 17.50 euros offered by the Franco-Chinese alliance.

Shares in Club Med were suspended ahead of the announcement, and last traded at 19.51 euros. ($1 = 0.7331 Euros) (Reporting by Dominique Vidalon and Pascale Denis; Editing by Astrid Wendlandt)

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