By sheer coincidence Nelson Tanure businessman will invest 90 million in med club. The exact amount achieved with the newly issued debentures in HRT.
NEW CLUB OWNER
Chinese billionaire Guo Guangchang invests $ 3 billion to take control of the traditional French network of Club Med resorts. Now he tries to convince his countrymen to staying in their hotels to cover the check
01/15/2015 18:31
By: Rodrigo Caetano
The control of the French network of resorts Club Méditerranée, or simply Club Med, for friends, is changing hands. The Chinese group Fosun, with branches in the sectors of steel, pharmaceuticals and insurance, among others, owned by billionaire Guo Guangchang, took over the company, one of the brands identified with the glamor of holiday in France. The negotiation should move around € 960 million, equivalent to R $ 3 billion, considered high value for the current moment the company. The Chinese have the partnership of Bahia businessman Nelson Tanure, which will invest about R$ 90 million to become a minority shareholder of the company.
The deal, which still generates doubts, brings good prospects for the hotel chain, which is facing financial problems and see the French tourists, who account for about 40% of the total clientele, deviate from their resorts due to the European crisis. Hope is precisely the countrymen of its new owner. "Club Med is perfect for the Chinese lifestyle," Guangchang said in a statement. Founded in 1950 by the Belgian Gerard Blitz, a former water polo player who fought side of General Charles de Gaulle in the French Resistance during the Second World War, Club Med is considered the largest network of upscale hotels in the world.
He was the forerunner of all model including, in which the accommodation, the food and drinks are included in the price. Each year, its 70 "villages" as they are called resorts in 40 countries, receiving about 1.2 million tourists a year. The pioneering days of the company date back to a time of optimism and hope, open the postwar period. "This idea was born a spirit. Our purpose in life is to be happy. The place for this is here and the time is now, "said Blitz, who was Jewish, by opening its first resort on the island of Mallorca, Spain.
The tradition and prestige, however, are not sufficient to prevent the current financial crisis in the company. Its revenue last year, fell 1.2% to € 1.3 billion, equivalent to R $ 4.1 billion. The last line of the balance sheet is painted red since 2011 - in 2014, the loss was € 68 million - and for 12 years the company does not distribute dividends to shareholders. Therefore, the high price paid by the Chinese, combined with the recent bad results, raises questions about the viability of the business.
To throw in the towel in the dispute with the Chinese, Italian Andrea Bonomi investor said the review of the resorts network had reached an unreasonable level. People familiar with the situation of the Club Med, the French newspaper Le Monde, said it was unclear when Guanchang, Tanure and its partners will be able to recover the investment. The biggest beneficiaries of the transaction, so far, are the minority shareholders of the company, who saw the market value of the network increases 70%. Bonomi, by the way, can also celebrate, despite losing the dispute, as had been buying company stock since March last year, for a price ranging between € 17 and € 18, reaching a 18% share.
The investor could now sell the papers to € 24.60. The new owner of the club, however, has as one of its main virtues of patience. Of humble origin, Guanchang often claimed that built his empire with a philosophy a mixture of Buddhism, Taoism, Confucianism and "buffetismo," a reference to the American mega investor Warren Buffett. Owner of a personal fortune estimated at $ 4 billion, it is among the 100 richest men in China. Its strategy to recover the old good times of the Club Med will keep everything as it is.
Guangchang has even said that the current CEO of the group, Henri Giscard d'Estaing, son of former French President Valéry Giscard d'Estaing, will remain in office. The Chinese businessman trust the demand of his countrymen by trendiest holiday destinations to resume growth of the group. The Club Med hopes to win about 10% of Chinese customers of four and five star hotels, an audience of approximately 200,000 people. "Club Med in China are trying to exploit the weakness of its local competitors," says Yan Yuejin, tourism analyst of Chinese consultancy E-House. The Brazil, where they are located three resorts network, is also considered a country with great potential for growth.