Reportedly in advanced talks is CapitaLand Investment to buy a minority share in Club Med, the French luxury resort operator run by Fosun International. According to sources familiar with the subject, CapitaLand, a division of Temasek Holdings-backed CapitaLand Group, wants a 20% to 30% share in the hotelier for several hundred million euros. The intimate nature of the material made these sources ask for anonymity.
Rising above rivals including several private equity companies, CapitaLand Investment has been the top bidder. Still in negotiations, though, no firm decisions have been taken.
Through asset sales and lower borrowing, Fosun International has been aggressively lowering its debt load, so increasing worldwide investor trust. Via its leisure division, Fosun Tourism Group, Fosun owns Club Med. Renowned for its all-inclusive resorts, Club Med presents a range of events including exquisite dining, yoga, scuba diving, and family-friendly seminars. Today it runs more than 60 resorts all around, including ones in the Maldives and the French Alps.
Following a restructure within CapitaLand Group, CapitaLand Investment—listed in late 2021—has come under market scrutiny for its significant investments in China among the state of the property market collapse. Temasek owns CapitaLand Group and likewise owns a majority share in CapitaLand Investment.
CapitaLand Investment and Fosun Tourism officials declined to comment; Fosun International did not answer enquiries for comments right away.
