Slaughter and May advised Virgin Group - sale of part of its stake in Virgin Active to Brait SE
Slaughter and May advised Virgin Group on the sale of part of its stake in Virgin Active, the leading international health club operator, in a transaction that puts an enterprise value on the business of c. £1.3 billion.
CVC and Virgin Group today announced that Brait has agreed to acquire a controlling interest in Virgin Active. Virgin Active is the leading international global health club operator with over 1.3 million adult members and 267 clubs spanning nine countries and four continents. CVC will be selling all of its shareholding and Virgin Group will be selling part of its shareholding. The transaction is expected to complete over the summer, following which Brait will own 80% of Virgin Active and Virgin Group will retain 20%, excluding management.