13 August, 2014

Ashurst has advised Fitness First Australia Limited (Fitness First) in the AUD 32.5m sale of its Western Australia-based gyms.

Fitness First sold its portfolio of eight gyms to Australian leisure retailer Ardent Leisure. Ardent Leisure has funded the acquisition via a AUD 50m underwritten placement, and the deal is due to complete in early September 2014.

The Ashurst team was led by partner Bruce MacDonald, who was assisted partners Brenton Key, Jennie Mansfield, Andrea Rezoz and Paul O’Donnell.

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