Support The Moscow Times!

Goldman Sachs and VTB Capital Could Buy Russian Fitness Group

RUssian Fitness Group, owners of the FizKult and World Class chains, might see some foreign investment.

The American finance giant Goldman Sachs and VTB Capital could buy into Russian Fitness Group, one of the leaders on the domestic market of fitness services.

The group, which owns the fitness club networks World Class and FizKult, may see one of its shareholders, Alfa Capital Partners, sell its stake to British company ELQ Investors IV, a subsidiary of Goldman Sachs, and Cyprus-registered company Chacoo Nevsky Property Finance, which has a sole beneficiary — VTB Capital, Kommersant reported Thursday.

Businessman Maxim Ignatyev and World Class founder Olga Slutsker could also sell their stakes, the report said.

Russian market of fitness services is one of the top ten in the world with a yearly turnover of $2.1 billion, according to UBS.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more