Linklaters has advised Brait, the South African listed private equity group, on its acquisition of an 80% stake in Virgin Active, the leading international health club operator, from CVC and Virgin.  The deal values Virgin Active at £1.3bn.

Virgin Group will retain a 20% stake, excluding management.  The existing management team will be retained and will be reinvesting alongside Brait.  The implementation of the deal is subject to approval by the South African and Namibian competition authorities.

The Linklaters team, which also advised on the tax structuring of the deal, was led by private equity partners Alex Woodward and Stuart Boyd, alongside corporate partner Stuart Bedford and tax partner Tim Lowe.

This is the second time in two years that Linklaters has advised Brait.  In 2013 the firm advised Brait and their portfolio company Premier Group on the acquisition of Lil-Lets from Electra.