July 18 (Reuters) – Brunei investment firm BMB Group is considering a bid for Club Med (CMIP.PA) that would value the French-listed holiday firm at about 800 million euros ($1 billion), the Sunday Times reported.
BMB Group, an investment office that manages money for the Sultan of Brunei’s family, has the support of three of Club Med’s four major shareholders, the newspaper said, citing unnamed sources close to the situation.
Talks with the fourth and largest shareholder, Fipar, are expected to be finalised this week, it added.
Neither BMB Group nor Club Med could immediately be reached for comment. (Reporting by Mark Potter; Editing by David Holmes) ($1=.7706 Euro)