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Club Med could be taken private by Brunei-based wealth fund
HOLIDAY company Club Med looks set to be taken private by Brunei private equity group BMB.
BMB, which manages funds for the Brunei royal family, is believed to have approached investors in the Paris-listed company to offer a deal that would value the firm at €800m (£675m).
The four main shareholders in the 60-year-old company are thought to have met with BMB to thrash out an agreement.
Club Med’s newest shareholder, Chinese firm Fosun, acquired a 7.1 per cent stake in the firm just five weeks ago but are understood to be supportive of a deal.
A spokesperson for BMB declined to comment on the matter yesterday. Club Med was could not be reached for comment yesterday.