5 to 679 million and the number of customers fell by 4

End of suspense. More than a year after announcing the project, the Mediterranean Club found his Chinese partner: the Fosun group will enter the capital of the tourist operator, at 7.1. The amount disbursed for this acquisition - from Fipar International (subsidiary of CDG Morocco) and GLG Partners n ' has not been unveiled, but these shares are valued on the stock exchange at about 25 million. Fosun is also committed to not wear its participation above 10 at least over the next twenty-four months, as long as no other shareholder will have won more than 10. It will have a representative on the Board of Directors and may be a second if its participation reaches 9.

This capital-intensive operation will also double of a strategic rapprochement, which will focus on "the domain of the construction and exploitation of tourist complexes high range, and the development of synergies", according to the common to the two groups. Fosun - presenting himself as "the largest Chinese conglomerate" with a turnover of about 35 billion yuan (approximately 4.2 billion) and seeking to internationalize - is present both in areas of steel, pharmacy, distribution, but especially of real estate. Data which should be of interest to the Club Med, which now favors the walls property management contract.

Upselling strategy

A medium-term", the two groups will work" to identify opportunities for opening of new villages, either by the launch of new projects, or by the continuation of existing institutions high-end. " The trident brand is sweet of this type of partnerships on markets very positive, as the Morocco (where it is combined with the Caisse des Dépôts and management held until yesterday 9.9 of the capital) in the Middle East (with Rolaco which award is 4.4). It accompanies the strategy of Upselling of the Club, initiated in 2004. Thus, by late 2012, two thirds of the villages should be 4 or 5 tridents.

The operation will mainly give a blow of Accelerator Chinese ambitions of the Club Med. "It is the first time that a Chinese private group takes a minority share in a European company to help it to develop in China," said André Loesekrug-Pietri, A Capital, who initiated the meeting between the two groups responsible for. By 2015, Henri Giscard d'Estaing wants to make China its second market world behind the France, with 200,000 customers, with the opening of 5 villages "conducted with renowned real estate partners, interested in the ability to pull of our brand and our international family customer base", as stated by the CEO of the group Friday. It is already planned to open in November a first club in the Yabuli ski resort (northeast).

Fosun is in any case to come to the capital of a company who has returned to profit in the first half (November 2009 to end of April 2010). Specialist all-included thus reached a net result of 3 million against a loss of 22 million in the same period a year ago. Even if the turnover is indented by 5.5 to 679 million, and the number of customers fell by 4.5, Club Med has shown its capacity for resistance to a lacklustre European tourism market and the impact of the ash cloud, which has degraded 5.6 million net income.