Esporta - UK

By Ryan on August 18th, 2007

LONDON (Reuters) - Upmarket fitness chain Esporta, whose parent companies filed for administration, has been approached by a handful of private equity firms in search of a bargain, people familiar the situation said on Thursday.  Esporta and administrators Grant Thornton declined to comment.

Syrian-born billionaire Simon Halabi bought Esporta last year for 500 million pounds with SocGen’s financing.  Halabi’s loss could reach as much as 150 million pounds if the company is sold for about 300 million pounds, just to cover its debt, erasing the equity value.

Lazard is advising Esporta.

Adapted from Elena Moya
This article: http://business.scotsman.com/latest.cfm?id=1298012007

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