U.S. private equity firm Leonard Green and Partners is set to acquire a controlling stake in British gym operator Pure Gym from CCMP Capital Advisors, the firms said in a statement on Friday.
They did not disclose the agreed price but Sky News earlier reported the business was valued at 600 million pounds ($783.96 million).
An initial public offering of the group, which has 950,000 members spread across 189 sites, was abandoned in October 2016.
CCMP bought a majority stake in the business in May 2013 and will no longer retain an interest in the business on completion.
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