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Branson in talks over Virgin Active sale
A number of private equity groups are considering making a bid for health and fitness operator Virgin Active.
CVC Capital Partners and Blackstone, both of which already have investments in the leisure sector, are among companies looking to take over "a considerable size" of the business.
Part of Sir Richard Branson's Virgin Group, Virgin Active currently operates 72 health clubs in the UK and also has operations in the Mediterranean and South Africa.
It is understood that Branson would keep a share in Virgin Active as part of any deal. Two private equity companies - Permira and Bridgepoint - already hold stakes in Virgin Active as a result of their deal to sell the Holmes Place chain to Virgin in 2006.
Virgin Active is currently in the midst of an aggressive expansion push in Europe. Last year the company announced plans to open 25 clubs in northern Italy over the next three years. It also has sizeable market shares in Spain and Portugal.
The group has more than 90 sites in South Africa, with more scheduled to open this year, and a global portfolio currently standing at 187 clubs.