This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bally Total Fitness To Sell 39 Fitness Clubs To Blast Fitness

CHICAGO, April 10, 2012 /PRNewswire/ -- Bally Total Fitness Holding Corporation announced today that it has entered into a definitive asset purchase agreement with Blast Fitness Acquisition, LLC, an affiliate of Blast Fitness Group, LLC, pursuant to which Bally and certain of its subsidiaries will sell 39 fitness clubs for consideration including the assumption of certain liabilities and cash.  The clubs to be acquired by Blast are located in the following local markets:  Boston, MA; Buffalo, NY; Charlotte, NC; Fresno, CA; Milwaukee, WI; Providence, RI; St. Louis, MO; Connecticut and Texas.  Blast will honor all Bally memberships associated with these markets and transferred members will enjoy reciprocal membership privileges at the remaining fitness clubs owned by Bally in other markets.

The transaction is subject to various closing conditions.  While Bally expects that the transaction will be completed by May 1, 2012, there can be no assurance as to when, or whether, the transaction will be completed.  Following completion of the transaction, Bally will continue to operate its remaining fitness clubs.

J. P. Morgan Securities LLC acted as exclusive financial advisor to Bally and Wachtell Lipton provided legal advice.

SOURCE Bally Total Fitness

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs