Saudi gym Bodymasters receives interest from 4 potential buyers

Saudi Arabia's Bodymasters gym chain has received initial interest from four regional private equity firms ahead of a targeted SAR 500 million ($133 million) sale later this year, Reuters reported on Wednesday, citing sources close to the matter.

The four potential buyers have started informal talks about a deal, the sources added, expecting the acquisition to be complete by the end of this year, depending on market conditions.

Bodymasters is 60 percent owned by Saudi private equity firm Amwal Al Khaleej, while the remaining stake belongs to Riyadh-based MEFIC Capital.

The major fitness chain currently has 28 gyms across Riyadh, Qassim, Dammam and Khamees Mushait, according to its website.