The countdown to the £1bn flotation of one of Britain’s biggest gym chains will begin within days when Virgin Active and Holmes Place complete their merger.
UBS has been instructed by Sir Richard Branson’s Virgin Group to refinance the newly merged operator of Virgin Active and the UK operations of Holmes Place, with an announcement expected within 10 days.
The merged entity would have combined sales of about £600m.
References: The Times 02/09/06 page 52
