Fosun acquires 7.1% stake in Mediterranean Club Group

[May Point Network] At present, Fosun Group is making efforts to build a global investment platform with two-way integration of domestic and international resources, and fully explore the global business opportunities related to China's growth momentum. ...

[May Point Network] At present, Fosun Group is making efforts to build a global investment platform with two-way integration of domestic and international resources, and fully explore the global business opportunities related to China's growth momentum.

“The strategic cooperation between Fosun Group and the French Mediterranean Club fully reflects Fosun’s solid step on the road to internationalization.” Guo Guangchang, Chairman of Shanghai Fosun High-Tech (Group) Co., Ltd. stated that “Fosun has a wide range of The industrial foundation and resources can provide comprehensive support for the rapid development of the French Mediterranean Club in China. Fosun will not only support the global positioning strategy of the Mediterranean Club's high-end boutiques, but also share the opportunities for China's growth. It will also connect with international brands through this investment. International standards further enhance its resource integration and management capabilities in the field of investment management."

Expand international space

On June 17, Fosun Group signed an agreement with the French travel and holiday company Mediterranean Club Group in Shanghai to announce that Fosun Group acquired a 7.1% stake in the Mediterranean Club, making it one of the company's largest strategic investors. At the same time, the two sides announced that they will sign a memorandum of cooperation on the establishment of strategic partnerships, and in-depth cooperation in the construction and operation of high-end resorts in China and global business synergies. In the spirit of mutual trust and mutual benefit, this strategic partnership will not only create value for both companies, customers and employees, but also add value to shareholders.

It is understood that Fosun Group has acquired Club Med and convertible bonds from two other companies, accounting for 7.1% of the share capital of the Club of the Mediterranean. The Fosun Group's move will support the long-term development strategy of the Mediterranean Club and become an important industrial investor in the Mediterranean Club. Fosun Group will assign directors to the Club of the Mediterranean. If Fosun Group receives 9% of the equity of the Club of the Mediterranean, Fosun Group will assign a second director to the Club of the Mediterranean. This decision will be sent to shareholders for approval at the next general meeting. A representative of Fosun Group will also become a member of the Strategy Committee and Audit Committee of the Club of the Mediterranean.

As part of the business partnership between Fosun Group and the Mediterranean Club, considering the current development strategy of the Club of the Mediterranean, Fosun Group has invested in the Club of the Mediterranean to become its long-term shareholder and become one of its largest shareholders. In this context, as long as no other shareholders increase their holdings by more than 10% (or express their intention to increase their holdings), Fosun Group hopes to obtain 10% of the equity after the dilution of the Club of the Mediterranean, and will not increase its holdings by more than 10 in the next 24 months. % this level.

Increase capital investment

Founded in 1992, Fosun was founded by four graduates of Fudan University and is considered to be one of the most representative enterprises in the private economy in the past 30 years of reform and opening up. In 2007, Fosun International, the parent company of Fosun Group, successfully listed in Hong Kong. At present, Fosun mainly has pharmaceutical, real estate development, steel, mining, retail, service and strategic investment businesses. In 2009, its operating income reached 34.86 billion yuan and its net profit reached 4.65 billion yuan.

Since 2008, Fosun Group has increased its investment in overseas capital markets, mainly because the international financial crisis has led to a sharp decline in overseas capital markets. The overseas investment targets selected by Fosun Group mainly include two types: one is a Chinese company listed overseas; the other is a company such as the Mediterranean Club. Although it is a foreign company, its profits may be large in the next few years. From China. “So, Fosun’s overseas investment route map is very clear, that is, the acquisition of assets that benefit from China’s economic growth,” said Liang Xinjun, vice chairman and CEO of Fosun Group.

Take the Mediterranean Club as an example. The reason why this 60-year-old store has been included in Fosun’s vision is because it has a clear plan for China’s market expansion and its prospects are promising. It is understood that the Mediterranean Club has set up offices in Beijing, Shanghai, Guangzhou and Chengdu. In 2009, it has already received 23,000 domestic consumers. According to estimates, by 2015, the company will attract more than 200,000 domestic consumption. By.

“Fosun Group cherishes every investment opportunity overseas.” Liang Xinjun said, “After investing in the Mediterranean Club, we will fight for the old shareholders and minority shareholders, as well as the parties to face our evaluation and use our work. In order to use our performance to strive for more investment opportunities in France and Europe."

Consumption upgrade brings business opportunities

As the global economy enters a period of adjustment, the shift in China's economic growth pattern is attracting global attention. Economic growth with consumption upgrading as an important driving force will bring a new round of business opportunities to the world. Analysts said that in 2009, the number of tourists in China has reached 1.9 billion, and tourism revenue has exceeded 1 trillion yuan. It is expected to maintain double-digit growth in the future. Not only that, the number of private residents leaving the country has exceeded 40 million, and the demand for vacation and leisure will bring opportunities for the clubs in the world. In this optimistic market prospect, the Mediterranean Club is willing to be the leading provider of high-quality, one-stop resort services in China, and to make China the second largest market for the Mediterranean Club within five years.

Therefore, Fosun Group will continue to support the development strategy of the Mediterranean Club in the future, with the goal of opening five Mediterranean Club Resorts in China by 2015. The Mediterranean Club has confirmed a number of locations for Fosun Group or its affiliates to support the development of the resort, and in a medium-term timeframe, through the new development or acquisition of existing high-end resorts, the two sides will cooperate to find opportunities to open new resorts.

In addition, the Club of the Mediterranean will benefit from the rich and diverse professional advantages of Fosun Group to promote its marketing in China: for example, to support the expansion of the Mediterranean Club in China; for example, through the network and related parties to Fosun Group Providing resort products and participating in the series of industry and financial forums hosted by Fosun Group each year, the Club of the Mediterranean will have the opportunity to benefit from China's large and fast-growing convention and exhibition market, thus helping the Mediterranean Club to enhance its reputation in the Chinese business community. Reputation. (Economic Daily)

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