December 4, 2018 / 11:06 AM / 9 days ago

Brazil's gym chain Smartfit considers IPO

SAO PAULO, Dec 4 (Reuters) - Brazilian gym chain SmartFit Escola de Ginastica e Dança is considering an initial public offering, according to a securities filing.

The company and its shareholders will raise money in the offering, the company said on Monday.

Smartfit’s shareholders include the Brazilian family Corona, Singapore’s sovereign wealth fund GIC and investment firm Pátria Investimentos Ltda, which has a partnership with U.S. buyout firm Blackstone Group LP.

The Brazilian gym chain has stores in Brazil, Mexico, Chile, Peru and the Dominican Republic. (Reporting Aluisio Alves Writing by Carolina Mandl Editing by Edmund Blair)

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