British health and fitness group David Lloyd is reportedly planning to buy around 20% stake in Mumbai-based Talwalkars Better Value Fitness. David Lloyd will purchase 20% stake in the company for Rs 300 a share, more than 30% premium to the traded price of Rs 207.7 on the stock exchange.
The deal, which will be signed at the fitness chain’s board meeting on August 7, will help the company expand its reach across the country. However, in March this year, the company had clarified on the same reports that there have been no negotiations for sale of any equity in the company.
Talwalkars Better Value Fitness is one of the largest fitness chains in India offering a diverse suite of services including gyms, spas, aerobics and health counseling under the brand ‘Talwalkars’.
