LONDON, Monday, July 19th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- The BMB Group, headquartered in the Cayman Islands, responded today to an article in the UK-based Sunday Times that claims that The BMB Group is expected to table an offer for Paris-listed Club Med that would value the company at €800 million. Harold Alby, spokesperson for The BMB Group commented:
“The BMB Group has not been in discussions with any executive or shareholder of Club Med as implied by the Sunday Times article.”
The BMB Group was founded by Rayo Withanage and H.H. Prince Abdul Ali 'Yil-Kabier in 2004. The firm began as a family office but has since expanded significantly to include advisory services, private equity, Islamic asset management and real estate investment capabilities for a much wider client base. Harold Alby added:
“We have developed a successful business in part because we greatly respect our clients’ wishes for confidentiality. However, we can confirm that we do not advise nor represent the Brunei Government on any investment matters. We run a private asset management business for a series of Middle Eastern and Far Eastern investors. We have interest in the hospitality sector and are presently working on a number of acquisitions.”
The Sunday Times article comes after a flurry of real estate activity by the prestigious Group. The BMB Group recently acquired two significant real estate companies in Europe in the space of a couple of months which have been consolidated to over US$5 billion of European and global real estate assets. The Group’s real estate business continues to grow through a series of acquisitions of other management companies and portfolios globally.
For media enquiries, please contact:
Penrose Financial
Karolina Adamkiewicz,
020 7786 4888
bmb@penrose.co.uk
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