No deal: investment firm denies Club Med bid

   
     

The BMB Group, an investment and advisory firm, has denied claims that it will make a bid on Paris listed Club Med, a move which will value the company at €800 million.

“The BMB Group has not been in discussions with any executive or shareholder of Club Med as implied by the Sunday Times article,” BMB Group spokesperson Harold Alby said.

“We have interest in the hospitality sector and are presently working on a number of acquisitions,” Mr Alby added.

The Sunday Times reported that BMB Group had the support of three of Club Med’s four major shareholders in its alleged offer for the company.

The speculation followed an announcement that BMB Group aims to boost its real estate assets after acquiring two real estate companies in Europe in the space of a couple of months.
 
Source = e-Travel Blackboard: G.A
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