Fosun, AXA Make $700M Bid for Club Med

Law360, New York (May 28, 2013, 1:42 PM EDT) -- Chinese conglomerate Fosun International Ltd., AXA Private Equity and other investors on Monday announced that they have offered to buy Club Mediterranee SA for approximately $700 million, a “friendly” bid spearheaded by the French company's top shareholders as it seeks to expand its presence in Asia.

The vacation resort company will mull over the deal in the next few days, appointing an independent expert to determine “the fairness” of the offer, the company said in a statement. The buyout, led by Fosun and AXA, would be...
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