Chinese conglomerate Fosun International is exploring the sale of a minority stake in its luxury resort chain Club Med, targeting a valuation of $800 million for the whole business, according to Reuters.
Fosun has been in informal discussions with potential buyers and advisers about the sale in recent months, but no firm bid has emerged. Fosun could sell as much as a 30% stake in Club Med, said one of the sources.
In November 2022, Bloomberg reported Fosun was informally fielding interest in Club Med based on a full-business valuation of $1.5 billion. At the time, Fosun said it had "no plans" to sell the all-inclusive resort operator.
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