South African investment house Brait SE is to pay $1 billion for a controlling stake in gym group Virgin Active, Brait said on Thursday, seeking to tap the growing health-conscious middle classes particularly in Africa and Asia.The fitness chain, jointly owned by the Virgin Group of entrepreneur Richard Branson and takeover firm CVC Capital Partners, has 267 gyms across nine countries including in South Africa, home to the largest number of Virgin Active clubs, Thailand and Britain.Brait said it will purchase an 80 percent stake in Virgin Active for 682 million pounds ($1 billion), valuing the gym chain at 1.3 billion pounds, including debt. The Virgin Group will retain a 20 percent stake.Without debt, the transaction - the biggest in Africa so far this year, according to Thomson Reuters data - values Virgin Active at 870 million pounds.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 1.94% or $-0.82/share to $41.50. In the past year, the shares have traded as low as $34.07 and as high as $42.64. On average, 924633 shares of TRI exchange hands on a given day and today's volume is recorded at 283992.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 2.57% or $-1.34/share to $50.72. In the past year, the shares have traded as low as $37.24 and as high as $53.00. On average, 808179 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 353517.
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