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VTB, Goldman acquire 50% stake in Russia’s World Class

6 Feb 2014

health-fitness-gym-exercise-bikeRussian investment firm VTB Capital and Goldman Sachs have confirmed that it has bought a 50 per cent stake in Russian fitness centre chain World Class from Alfa Capital Partners.

VTB noted that Russia is currently one of the ten largest fitness markets in the world and has significant growth potential.

In addition, the market share of organized fitness chains continues to increase thanks to high customer retention rates.

Deputy global head of private equity and special situations at VTB Capital Andreas Boesenberg said, “This transaction represents yet another case where VTB Capital private equity partners up with a reputable international institution to invest in the industry leader with successful growth history and stellar brand.

“I am sure that together with Goldman Sachs we will use our best expertise to help management support the rapid growth of the business and enhance operations further.”

VTB’s recent deals include the exit from software company Luxoft for an IRR of over 50 per cent.

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