Norvestor looking to sell Elixia
Norvestor Equity is looking to sell its stake in Nordic gym operator Elixia Nordic ASA, according to reports.
In 2009, the company recorded EBITDA of NOK 169.7m, indicating that the sale could value the company at up to NOK 2bn. Norvestor acquired a 57% stake in the company in September 2006 and during this time, gym membership has increased from 75,000 to 160,000.
It is believed that UBS has been chosen to handle the sales process. An IPO has also been mentioned as a possible exit route.
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