Hey PE Funds: Want To Own A Gym? Richard Branson Wants To Sell You His For $1.5 Billion

Virgin mogul Richard Branson is apparently in talks with various private equity firms to sell his health and fitness chain, Virgin Active, for £1 billion ($1.54 billion).

The Telegraph reported that Virgin’s management has had meetings with KKR, Blackstone, Advent International and CVC Capital about possible sale options for the 187-club chain. The firms approached Branson during his hunt for funds to consolidate and grow the business.

Branson is also said to be considering an IPO on the London Stock Exchange too, and has asked Goldman Sachs, Citi and RBS to work on the listing. However, insiders told the Telegraph that a sale is more likely. 

Read the full story at The Telegraph >>>

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