For Brait, everything now hinges on a gym company that sells smoothies

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With the plan to list about half of its stake in Premier finally underway, Brait has started the timer on its strategy to return all its capital to shareholders. Moneyweb

With the plan to list about half of its stake in Premier finally underway, Brait has started the timer on its strategy to return all its capital to shareholders1. All of this centres on Virgin Active – its most valuable asset after the sale of a chunk of Premier – being in a “listable form”. Read: Brait aims to raise R3.

8bn, buys real foods health chain [Mar 2022] The overall business has a value of around £1 billion , but Virgin has its own debt pile of £438 million as at the end of September. This leaves a value of approximately £533 million, of which its two-thirds stake is ‘worth’ £393 million, or R7.9 billion. Getting Virgin Active’s profitability back to something resembling historical levels is something new CEO Dean Kowarski will be fixated on. It has two years to get there.

 

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