Global Resorts, the investment vehicle of Italian tycoon Andrea Bonomi, has decided not to raise its offer for struggling French resort operator Club Mediterranee and to withdraw its bid, ending France's longest-running takeover battle.
Guo Guangchang
Breaking News
Hilton Worldwide Holdings Inc (HLT.N) said it would sell its flagship Waldorf Astoria New York hotel to a Chinese insurance company for $1.95 billion, one of the highest prices per room ever paid for a U.S. hotel.
Italian tycoon Andrea Bonomi has written to directors of his bid target Club Mediterranee (CMIP.PA) asking for updated financial information, a letter seen by Reuters shows, in a sign he still hopes to win control of the French holiday company.
Chinese conglomerate Fosun Group invested CNY210.5 million ($30.7 million) in Kuala Lumpur, Malaysia-based restaurant chain Secret Recipe, according to a report by Shanghai's China Business News.
Fosun International, controlled by Chinese tycoon Guo Guangchang, is seeking to acquire apartments, hotels and offices in New York as well as in other US cities after its purchase of lower Manhattan landmark 1 Chase Manhattan Plaza.
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