- CCI approved the acquisition of IPL team Royal Challengers Bengaluru by a consortium
- The consortium includes Aditya Birla Group, Times Group, Blackstone, and other investors
- The deal involves 100% shareholding purchase in Royal Challengers Sports Pvt Ltd
Fair trade regulator CCI on Tuesday approved the acquisition of Royal Challengers Sports, which owns and operates IPL franchise RCB, by a consortium led by the Aditya Birla Group, Times Group entities, Blackstone and other investors.
In March this year, United Spirits Ltd (USL) announced the sale of IPL franchise Royal Challengers Bengaluru (RCB) in a Rs 16,660 crore all-cash deal to the consortium.
The Competition Commission of India (CCI) said the proposed combination relates to the acquisition of 100% shareholding collectively by Big Banyan Holdings, Bolt IPL Holdings, Times Internet Ltd, Times Cricket LLP, ICQ Opportunities RC Holdco, Ltd, and Asia Investment Topco II Pte Ltd in Royal Challengers Sports Pvt Ltd.
Big Banyan is a part of Aditya Birla Group, while Asia Investment Topco II is controlled by funds advised or managed by affiliates of Blackstone Inc and ICQ Opportunities is a part of the global investment firm ICONIQ group.
Times Internet Ltd is a digital products company with a diversified business presence in India, including digital news, advertising services, rewards programs, event management, etc.
"CCI approves acquisition of 100% shareholding of Royal Challengers Sports by a consortium comprising Big Banyan Holdings, Bolt IPL Holdings, Times Internet, Times Cricket, ICQ Opportunities, Asia Investment Topco II and others," the regulator said in a post on X.
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Bolt Ventures, a private investment platform of David Blitzer, is one of the world's most prominent sports investors.
RCSPL owns and operates RCB franchises that participate in the Indian Premier League (IPL) and Women's Premier League (WPL). It does not have any business activities outside India.
In November last year, USL said it would conduct a strategic review of its investment in RCSPL, the entity that owns the IPL T20 team Royal Challengers Bengaluru.
RCB, the team which had India's cricket star Virat Kohli, won its second Indian Premier League title in May this year.
RCB was one of the founding teams of the IPL, which was founded in 2008 by its previous owner, Vijay Mallya. It came into the fold of Diageo after it took over Mallya's liquor business, United Spirits Ltd.
The Bengaluru-based IPL franchise, whose home ground is M. Chinnaswamy Stadium, won its first title in 2025 and finished as the runners-up on three occasions -2009, 2011, and 2016.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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