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May 18, 2022
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Peloton seeks buyers for minority stake

Peloton seeks buyers for minority stake

A person walks past a Peloton store in the Manhattan borough of New York City, U.S., January 25, 2022. REUTERS/Carlo Allegri

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May 5 (Reuters) – Fitness equipment maker Peloton Interactive Inc (PTON.O) is exploring the sale of a sizable minority stake in the company, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The New York-based company is seeking potential investors including industry players and private-equity firms that could buy a stake of around 15% to 20%, the report said.

Talks are at an early stage and there are no guarantees the company will find a taker or agree to a deal, according to the report.

Peloton did not immediately respond to a Reuters request for comment.

The company became an investor darling during the pandemic but has struggled in recent months as people step out and return to gyms after COVID-19 curbs were eased.

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Reporting by Ruhi Soni in Bengaluru; Editing by Aditya Soni

Our Standards: The Thomson Reuters Trust Principles.

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