Bally Total Fitness (BFT) to Sell Canadian Operations
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Bally Total Fitness (NYSE: BFT) has entered into agreements to sell its 16 Toronto, Canada facilities to Extreme Fitness, Inc., which is acquiring six of the facilities, and GoodLife Fitness Centres Inc., which is acquiring ten of the facilities. The properties include nine Sports Clubs of Canada and seven Bally Total Fitness clubs.
Terms of the transactions were not disclosed.
Proceeds from the transactions are estimated to be approximately $19.6 million (Canadian) and will be available to support operations.
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