Club Med: Andrea Bonomi told to clarify its game
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Faced with the debut of the businessman, the AMF has extended the deadline to June 6 OPA Gaillon Invest and calls for clarification.
The time has come to clarify the Italian businessman Andrea Bonomi which maintains the suspense about his intentions for two weeks. Now become the largest shareholder of Club Med (10%), it has so far 18 hours to know if he intends to launch a cons-offer against that of Fosun-Ardian. In this context, the AMF preferred for another two weeks due to the takeover of Gaillon Invest (the investment vehicle of the Sino-French tandem) from May 23 to June 6 A priori, the founder of Investindustrial remains determined to thwart the takeover Gaillon Invest (17.50 euros per share), which he considers the price undervalued, saying ready to ride 29 9%, the threshold for triggering a mandatory takeover bid. But it remains unclear about its intentions in case of failure proved supply Sino-French.
"Strategic Holdings does not intend to take control of Club Med or submit a bid on the securities of the company, such a transaction not subject to its current investment strategy, "said the company Andrea Bonomi, in a first "development" published on Friday, adding that "what happens after the offer will depend on the circumstances then prevailing." But the AMF called for further clarification by asking the Luxembourg company "and any person acting in concert with it" to clarify their intentions. Clearly, the stock Constable intends to ensure that it relinquishes to initiate, directly or indirectly, an alternative offer , which forbid him to do so for a period of six months. Strategic Holdings should provide an answer on this subject today. In its development of 23 May, Andrea Bonomi no secret that "some investment funds managed by companies ("Investindustrial Private Equity ") indirectly controlled by BI-Invest Holdings could review the situation arising, especially if the Club Med shareholder situation was unstable and the company proved better positioned becoming private. " Clearly, the galaxy Bonomi reserves the right to reconsider its position through Investindustrial. The distinction is important because BI-Invest, the holding company of the Bonomi family, says exercise no direct control over the galaxy Investindustrial, which he chairs, and management.
"A great confusion"
"By creating a great confusion, Andrea Bonomi looking to make a creeping takeover at lower prices, "says Will you side Gaillon, deploring its" permanent ambiguity. " But the Italian side, it does not preclude a "more ambitious project," Andrea Bonomi has not hidden his recently growing interest in tourism.
For its part, Gaillon Invest has been dismissed on Friday its request for interim relief before the Commercial Court of Paris to force Benetton (family Edizione Holding ) to sell its shares to the offer under a commitment " irrevocable "subscribed in June 2013. Noting that Benetton has never qualified its irrevocable position, the court dismissed the application for interim relief Gaillon. The tussle over the future of the Club is not finished.