Slaughter and May and Linklaters are advising as Sir Richard Branson’s Virgin Group and private equity group CVC Capital Partners sell a majority stake in fitness chain Virgin Active to a South African investment company.
Brait SE has agreed to buy an 80% stake in Virgin Active, which is jointly owned by Virgin Group and buyout firm CVC, for £682m. Including debt, the deal values the business at £1.3bn and is expected to be completed this summer.
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