vacationers. Club Med World Montreal and many villages, particularly those in North America or with more basic facilities, were closed. The Club returned to profitability in 2005. In 2004, the hotel group Accor became the largest shareholder, but it sold most of its stake in 2006, announcing that it wished to refocus on its core businesses. From 2001 onward, the resort company worked to rebrand itself as upscale and family-oriented. In 2006 and 2007, Club Med and its partners dedicated a total of $530 million to renovate several resorts. Acquisition In February 2015, Fosun International Ltd.'s Gaillon Invest II and The Silverfern Group finalized a takeover deal of Club Méditerranée S.A. The acquisition culminated a bidding war that began in May 2013, which was conducted by Gaillon, a special investment vehicle used by Fosun, to execute its bidding for Club Med. The two-year-long war boosted the price of the company from the initial €541 million "friendly bid" in 2013 up to the final sale price of €939 million ($1.07 billion). Gaillon Invest's chairman, Jiannong Qian, believes that Chinese ownership of the company is crucial to tap into China's huge population of potential tourists. Following the takeover, Chairman and President of Club Méditerranée SA, Henri Giscard d'Estaing, was named President of Club Med SAS. In popular culture The phrase "Club Med- a cheap holiday in other people's misery" appeared as a Situationist slogan, written in graffiti in Paris, May 1968. The phrase was described as a commentary on alienation, domination, and "the false promises of modern life". The slogan was later given a nod to in the opening lyrics of the Sex Pistols song "Holidays in the Sun". The Club Med style of vacation was satirized in the 1978 film, Les bronzés (released in English as French Fried Vacation) directed by Patrice Leconte. Sequels Les Bronzés font du ski and Les Bronzés – Amis pour la Vie were released in 1979 and 2006 respectively. In Jean-Luc Godard's 'La Chinoise' (1967), the character Guillaume (Jean-Pierre Léaud) talks about his father who had fought Germans in the war, now ran Club Med resort working along the lines of concentration camps. In regards with the Situationalist slogan, this scene establishes an image from Dal lake of Kashmir. The 1983 film Copper Mountain: A Club Med Experience, starring Jim Carrey and Alan Thicke, is a quasi-commercial for the now-closed Club Med village in the U.S.