David Lloyd Leisure (DLL), Europe’s leading health and fitness group, has acquired two Reebok Sports Club sports centres in Madrid, located in the ABC Serrano and La Finca shopping centres.
With this new transaction, David Lloyd Clubs brings the total number of clubs in Spain to seven, four of them in Madrid.
David Lloyd Leisure thus takes over from Antonio and Carlos Sainz, who started the Premium Sports Centres in the 2000s with almost 30,000 square metres for various exclusive sports services.
The DLA Piper team advising on the transaction was led by Corporate partner Joaquín Echánove, with the collaboration of legal director Luis Borrero and associate Carlos Fuerte, from the same department.
According to Joaquín Echánove, “we are pleased to have once again advised David Lloyd on its expansion plan in Spain, and that they continue to rely on DLA Piper as trusted advisors for these complex transactions.”
Garrido advised on the transfer, by the Family Offices of the Sainz family, of the ownership of the Reebok Sports Club gyms to David Lloyd Leisure. The Garrido´s team, led by M&A director Iñigo Araluce and the Tax partner Francisco Conde, collaborated in the negotiation of the terms of the sale with the buyers´ advisory teams.
According to Garrido, on this deal “a complex negotiation was necessary to conclude the agreement, in which commercial contracting and administrative law issues were paramount.”
