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Virgin plans business spin-off
20/08/2007
Virgin Group is reportedly planning to spin off businesses in IPOs, and run itself in the manner of a buyout company. At the same time, reports have stated that the company is attracting interest from buyout groups and has received offers for several of its main operations, with selling to buyout groups noted as another feasible option. Virgin is already said to be seeking to list its Virgin Mobile USA in New York, and it is expected that health club business Virgin Active will be next in line. Singapore Airlines is also mulling over a sale of its 49% holding. Another report citing Branson said that considering options for Virgin Megastores could see the music retailer put on the block. The majority of Virgin Group's global retail businesses have been franchised, and the group intends to continue to concentrate on transportation, renewable energy, media and communications, health and leisure, and financial services.

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