Goldman Sachs and VTB Capital Could Buy Russian Fitness Group

By The Moscow Times

Nov. 7, 2013

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.

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