Press release

IFIL - Agreement for the sale of the stake held in Club MéditerranéeJune 11, 2004

Ifil Group and Exor Group have reached an agreement with Accor for the sale of their stakes in Club Méditerranée.

Ifil Group will sell 6.36% of the capital stock of Club Méditerranée for a total minimum price of € 55.5 millions (€ 45 per share) and with a net capital gain of € 24.4 millions.

The agreement includes a potential price increase, up to a maximum of € 12 millions (€ 10 per share) over the next two years, based on the Club Méditerranée’s future economic and financial performance.

The transaction is subject to the approval by the competent antitrust authorities.

 

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