Goldman invests in Russian exercise chaim

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Teaming with VTB Capital to buy a 50% stake in Russian Fitness Group, Goldman Sachs (GS) is looking to capitalize on the country's growing enthusiasm for working out. Goldman had owned a minority stake since 2006.

Russian Fitness Group - an owner of the World Class and FIsKult chains - has 60 clubs in 22 cities with 109K members after 21 years in business. The World Class group plans to open nine more clubs this year.