(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