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KKR looks to bid in $800 million-plus auction of Britain's Pure Gym: Sky News
September 21, 2017 / 11:08 AM / 3 months ago

KKR looks to bid in $800 million-plus auction of Britain's Pure Gym: Sky News

(Reuters) - U.S. private equity investment firm KKR & Co LP (KKR.N) is going to bid in a 600 million-pound-plus ($800 million) auction of Britain’s largest chain of health and fitness clubs, Pure Gym IPO-PGYM.L, according to Sky News.

The fund operator KKR is among a group of financial investors that are set to make offers for the fitness chain ahead of a deadline on Thursday, Sky News said. (bit.ly/2flu2Qu)

    Pure Gym’s sale comes over a year after it announced, and later canceled a 190 million-pound initial public offer of shares due to “challenging IPO market conditions”.

    The chain’s major shareholder CCMP Capital Advisors has controlled the chain since 2013 and overseen a period of growth and expansion.

    Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Greg Mahlich

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