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(Bloomberg) -- Singapore’s CapitaLand Investment Ltd. is in advanced talks to buy a minority stake in French luxury resort chain Club Med SAS from its Chinese owner Fosun International Ltd., according to people with knowledge of the matter.

The real estate investment firm, part of Temasek Holdings Pte-owned conglomerate CapitaLand Group Pte, is seeking to acquire from 20% to 30% in the hotelier for about €500 million ($557 million), the people said, asking not to be identified because the information is private. A deal could give Club Med a valuation of about €2 billion, two of the people said.