South Africa's Brait offers $1 bln for 80 pct of Virgin Active - CNBC Africa

South Africa's Brait offers $1 bln for 80 pct of Virgin Active

Southern Africa

by Reuters 0

South Africa's Brait offers $1 bln for 80 pct of Virgin Active. PHOTOS: virginactive

South African investment firm Brait SE has offered 682 million pounds ($1 billion) for an 80 percent stake in fitness chain Virgin Active, it said on Tuesday.

Virgin Active is jointly owned by Sir Richard Branson's Virgin Group and buyout firm CVC Capital Partners.

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