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Brait Pays $1B For Virgin's Private Equity-Backed Gym Co.

By Zachary Zagger (April 16, 2015, 1:39 PM EDT) -- South African investment house Brait SE said on Thursday that it will pay £682 million ($1.02 billion) in cash to acquire a controlling stake in Virgin Active Ltd., owned by billionaire mogul Richard Branson's Virgin Group Ltd. and buyout firm CVC Capital Partners, ending the gym operator's rumored initial public offering....

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