Bridges Ventures Seeks to Sell U.K. Gym Chain, Independent Says

Bridges Ventures Ltd., a U.K. private equity fund, is preparing to sell fitness centre chain The Gym Group for more than 100 million pounds ($154 million), the Independent on Sunday reported, without saying where it got the information.

Corporate adviser McQueen Ltd is in the very early stages of reviewing the business and looking for a buyer for the chain of 23 gyms, with a deal not expected until 2013, according to the newspaper.

To contact the reporter on this story: Michelle Wiese Bockmann in London at mwiesebockma@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net

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