• Club Med sells 7.1% stake to Fosun Group

Club Med has sold a 7.1% stake to China’s largest privately owned conglomerate the Fosun Group, making it one of the French company’s biggest investors.

The two also announced a strategic partnership that will see five new Club Med holiday villages open in China by 2015, comprising both greenfield developments and the takeover of existing upscale resorts.

See full press release here: http://www.clubmed-corporate.com/wp-content/uploads/2010/06/CP-EN.pdf

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