Brief: Talwalkars Better Value Fitness says no talks for sale of any equity in co

Talwalkars Better Value Fitness

27/03/2014 09:01

March 27 (Reuters) - Talwalkars Better Value Fitness Ltd  TALW.NS : * Says there have been no negotiations for sale of any equity in co * Source text: With reference to the news article appearing in a leading financial daily titled "UK's David Lloyd in Talks to Buy 20% in Talwalkars", Talwalkars Better Value Fitness Ltd has Clarified to BSE as under: "There have been no negotiations for sale of any equity in Talwalkars Better Value Fitness Limited (TBVF). David Lloyd Leisure Limited (DLL) from U.K. was in India with a view to exploring ways in which our alliance could work at a more involved level and to see some specific sites for leisure clubs which TBVF is actively considering. Various options including advisory involvement, co branding opportunities, possible investing in the TBVF and other clubs, working on management contracts with third party owned clubs were among the various ideas that were raised as part of brain storming. The possibility of setting up a separate undertaking for specific clubs with land developers who may be interested in availing of DLL or TBVF expertise as a mode of growth for the alliance was also discussed at a concept level. No specific negotiations have been entered into. TBVF has an existing alliance with DLL that was entered into in 2012 and that alliance had been duly reported to the Stock Exchange and was reported by the media as well. We are not aware of any meaningful information that should have had an impact on the stock price in the past two days. We hereby clarify that we do not comment on market speculation." * Further company coverage  TALW.NS  ((Bangalore Newsroom; +91 80 6749 1130))