Talwalkars Better Value Fitness (TBVF) has entered into a non-binding Memorandum of Understanding (MoU) with Mickey Mehta Health Beyond Fitness, and with renowned holistic fitness and wellness expert, Mickey Mehta.

TBVF proposes to acquire the assets, brand, members and goodwill of Mickey Mehta Health Beyond Fitness. The MoU will also enable TBVF to be exclusively associated with Mickey Mehta.

This MoU is subject to confirmatory due diligence, definitive agreements and regulatory approvals, as may be required.

TBVF and Mickey Mehta will be setting up a new company that will acquire the assets including brand and goodwill of Mickey Mehta Health Beyond Fitness. TBVF will have 51% shareholding in the new company. 

Shares of the company gained Rs 4.9, or 1.53%, to trade at Rs 326.00. The total volume of shares traded was 4,131 at the BSE (9.43 a.m., Wednesday).