CCI Greenlights Strategic Restructuring in Fitness Sector

The Competition Commission of India approved a restructuring deal involving Curefit Healthcare, Cultfit Healthcare, Curefit Services, and Fitness First Luxembourg SCA. This transaction involves demerging and merging activities aimed at streamlining operations within the fitness industry, specifically around CultPass offerings, while purchasing back shares from outgoing shareholders.

The Competition Commission of India (CCI) on Tuesday approved a significant restructuring transaction involving several major players in the fitness sector, namely Curefit Healthcare, Cultfit Healthcare, Curefit Services, and Fitness First Luxembourg SCA.

This deal includes the demerger of CultPass Elite and CultPass Pro memberships from Cultfit and Curefit Services into a more consolidated Curefit Healthcare, along with a buyback of shares in the newly established Cultfit Merged Entity, from all shareholders except Curefit Healthcare.

Fitness First Luxembourg SCA, known for operating various fitness centers worldwide, participates in this reshuffle by its investments in Curefit and Cultfit, which are set to redefine their operational efficiencies in India.

(With inputs from agencies.)