French Group Up acquired 100% ownership in FitPass, Serbian gym cards provider

JPM Jankovic Popovic Mitic M&A Team, led by Partner Nikola Poznanović, successfully advised French multinational company C.D Holding Internationale SAS (Groupe UP), in closing the third phase of the transaction and acquisition of 100% ownership in FitPass, Serbian gym cards provider.

This is a continuation of JPM’s long-term support provided to Group Up, starting in 2019 with the acquisition of the part of the shares, followed by assistance in regulating mutual relations between the shareholders, closing the second phase of the transaction in 2020 until the finalization of the acquisition of 100% ownership and exit of Fitpass Limited, Ireland.

As a keepsake, Groupe Up is a French cooperative group established in 1964, which connects individuals, companies, and territories by developing management, relationships, and transaction platforms that contribute to well-being and performance. It is operating in more than 25 countries worldwide. Groupe Up facilitates access to food, culture, leisure, education, home and social assistance, expense management, as well as incentive and loyalty systems.

FitPass provides issuance, sale, and operation of a multi-gym/sport activities membership card, enabling access to sports facilities in Serbia, to corporate entities and retail individuals.

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