Fosun, A Capital co-invest Club Med
A Capital Asia, the Hong Kong-based private equity and financial advisory firm, has announced a PIPE co-investment with Fosun, China's largest privately-held conglomerate, in Euronext-listed Club Méditerranée (Club Med), with Fosun picking up a 7.1% stake in the business.
The deal amount was not disclosed, but based on latest closing prices for Club Meds stock, is around EUR23.38 million ($28.14 million). With the deal, Fosun becomes a leading strategic minority investor in Club Med. Fosun and Club Med have also announced a global partnership to build and operate upscale resorts, with Club Med planning several new projects in the PRC. In the announcement, A Capital stated that it had originated the transaction and acted as sole financial advisor to Fosun on the deal, as well as co-investing. A Capital specializes in outbound investments from China.
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