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LONDON - Blantyre Special Situations Fund I plans to sell approximately 5% of The Gym Group plc’s (LSE:GYM) issued share capital through a secondary block trade to institutional investors, according to a press release statement issued Thursday.
The institutional shareholder will conduct the sale via an accelerated bookbuild process that began immediately following the announcement. Rothschild & Co Redburn is serving as the sole bookrunner for the transaction, while Ocean Wall Ltd is acting as originator and corporate adviser.
The final terms of the transaction, including pricing and allocation details, will be determined at the conclusion of the bookbuilding process and announced separately.
The Gym Group, a UK-based fitness center operator, is not participating in the transaction and will not receive any proceeds from the share sale, as this represents a secondary offering by the selling shareholder only.
The block trade targets institutional investors exclusively, with no shares being offered to retail investors as part of this transaction.
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