POLAND Fitness club chain Calypso Fitness announces a SPLIT

The Polish Fitness club chain Calypso Fitness will be undergoing some structural changes due to an acquisition process. The legal partners KKLW law office has advised the parties Glastonbury Ventures Limited and Mikolaj Nawacki to proceed with the split. The lawyers are planning to begin with the sales of the company’s shares and the handover of the Calypso Fitness assets. In a recently concluded agreement which marked the transition of the Calypso Fitness, the entire process is billed to be completed over the coming months. The company shares will be purchased by Benefit Systems which will take over the assets of Calypso Fitness. The value of shares to be sold is estimated to be PLN 100 min. The transactions were done by the mergers and acquisition experts KKLW: Krzysztof Lyszyk (partner) and MAriusz Domagala (senior associate).There had been previous indications that Benefits Systems intended to acquire Calypso Fitness, and the necessary filings had been submitted to the Office of Competition and Consumer Protection regarding the planned purchase. However, in 2018, Benefit Systems withdrew its application after a rejection by the Office. The Calypso Fitness group remains one of the largest fitness club operators in Poland. Benefit Systems is one of the companies listed on the main trading floor in the Warsaw Stock Exchange, and its major investment is the MultiSport employee benefits programme.