Maus Frères’ purchase offer for Club Med rejected
Published: Tuesday, Jan 23rd 2024, 17:40
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Manor owner Maus Frères has submitted a purchase offer for a majority stake in French resort operator Club Med. However, this has been rejected by Club Med's owner, the Chinese conglomerate Fosun.
The purchase offer has not yet been accepted," said a Swiss Club Med representative when asked by the news agency AWP about an article in the French newspaper "Les Echos". However, the French company and Geneva-based Maus Frères are still in talks, the spokesperson said. Other purchase offers were also being examined. For its part, Maus Frères has not yet been able to comment.
The resort operator is primarily looking for minority investors, as Club Med CEO Henri Giscard d'Estaing said last September. An opening for strategic minority partners alongside main shareholder Fosun is not ruled out. The aim is to strengthen Club Med's development and growth potential.
According to "Les Echos", a minority investor with a stake in the region of 20 to 30 percent would be welcome. This would result in an enterprise value of around 2 billion euros (1.9 billion Swiss francs).
There are already links between the two groups: for example, there is a collection of Lacoste clothing with the Club Med logo.
Maus Frères has streamlined its Swiss portfolio in recent years: In the process, the sports stores Athleticum were sold to French competitor Decathlon and the Jumbo DIY chain to Coop. Fosun, for its part, recently sold the Zurich football club GC to the Los Angeles football club.
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