Andrea Bonomi, in the end, decided to throw in the towel: it is pulled back from the controversy to the Club Med, after the last revival of the Chinese Fosun.
The following is the text of a statement issued last night by Global Resorts , the group of which Investindustrial , created by Bonomi, is majority shareholder: “The board has decided not to proceed to an increase in the price intending then withdraw its bid in accordance with the current legislation.”
“Global Resorts, as an institutional investor believes that the current scenario and valuation levels do not justify further consideration on whether to invest in Club Med . Global Resorts is pleased to reaching a higher valuation in favor of the minority shareholders , and wishes the Company and its employees a prosperous future. Investindustrial and its partners will continue to invest in France and in the tourism and leisure in Europe, “said Andrea Bonomi.
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