CVC Capital Partners News

South Africa's Brait to pay $1B for control of Richard Branson co-owned Virgin Active, in biggest M&A deal from Africa so far this year.

South Africa's Brait to pay $1B for control of Richard Branson co-owned Virgin Active, in biggest M&A deal from Africa so far this year

South African investment house Brait SE (BATJ.J) is to pay 682 million pounds ($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.

Virgin Active has 114 sites in South Africa and 101 sites in the UK

Gym chain Virgin Active picks Johannesburg Stock Exchange over London bourse for £1.5B IPO

Gym chain Virgin Active is looking for investment bankers to run the likely £1.5B flotation of its shares on the Johannesburg Stock Exchange over the coming months.