New Delhi, Mar 24 (PTI) United Spirits Ltd (USL) on Tuesday announced the sale of IPL franchise Royal Challengers Bangalore (RCB) in a Rs 16,660 crore all-cash deal to a consortium of Aditya Birla Group, The Times of India Group, Bolt Ventures and Blackstone.
In a regulatory filing, USL said pursuant to the meeting of its Board of Directors, it has entered into definitive agreements for the sale of the 100 per cent equity stake held in its wholly-owned subsidiary Royal Challengers Sports Private Ltd (RCSPL) to a consortium comprising Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy, BXPE (Blackstone).
“The all-cash transaction is for a total consideration of Rs 16,660 crore,” USL, part of multinational alcoholic beverages company Diageo, added.
RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and Women’s Premier League (WPL), it added. PTI KRH MR
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