Brazil’s BTG to Buy 30% Stake in Fitness Chains, Folha Reports

Banco BTG Pactual SA (BBTG11), led by the Brazilian billionaire Andre Esteves, will announce on April 30 the acquisition of 30 percent of the Brazilian physical-fitness chains Bodytech and Formula, Folha de S. Paulo reported, citing Luiz Urquiza, chief executive officer at Bodytech.

The value of the transaction won’t be disclosed, though Folha reported, citing analysts, that BTG paid 200 million ($106 million) for the stake.

To contact the reporter on this story: Cristiane Lucchesi in Sao Paulo at clucchesi5@bloomberg.net

To contact the editor responsible for this story: Sylvia Wier at swier@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.