Deals
3i Said to Consider IPO of Basic-Fit Gyms Valued at $1.1 Billion
- Private equity firm picks Morgan Stanley, ABN Amro to advise
- Amsterdam listing may happen this year if markets hold
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Private equity firm 3i Group Plc is considering an initial public offering for Basic-Fit, which could value the Dutch gym chain at about 1 billion euros ($1.1 billion) including debt, according to people familiar with the matter.
The company has picked Morgan Stanley and ABN Amro Group NV as advisers, and may list Basic-Fit in Amsterdam this year if the market for IPOs is favorable, said the people, who asked not to be named because the deliberations are private. No final decision has been made, and 3i may choose to pursue a sale or keep the company longer, they said.