Virgin Active mulls sale or flotation

Virgin Active, the British health and fitness chain, has met a series of private equity suitors over a possible sale of the business that could net over £1 billion ($1.53 billion), The Sunday Telegraph reported.                                           
 

The newspaper said the 187-club firm, 76% owned by Richard Branson's Virgin Group, is in the early stage of talks with potential buyers and has not yet launched a formal auction process.        
 

It said the gym chain is also continuing to work on a potential flotation but plans have been hampered by stock market volatility.                                           

It said private equity firms, including Kohlberg Kravis Roberts & Co, Blackstone, Advent and CVC, could be interested in bidding for Virgin Active.                                           
 

A spokesperson for Virgin Group declined to comment.