Russia, Abu Dhabi Wealth Funds Buy Stake in Russian Gym Chain

Bloomberg, 28.11.2018

By Shaji Mathew

(Bloomberg) -- A group of investors including the Russian Direct Investment Fund, Abu Dhabi’s Mubadala Investment Co. and other Middle East funds acquired a 22.5 percent stake in Russian Fitness Group from VTB Capital.

The consortium will invest further to develop the gym operator, which manages the largest chain of fitness clubs in Russia under the ‘World Class’ brand, according to a statement. It didn’t provide a value for the deal.