Aditya Birla Group Buys Full Ownership of Royal Challengers Bangalore
A consortium led by the Aditya Birla Group (ABG) has acquired 100 percent equity stake in IPL franchise Royal Challengers Bengaluru for a whopping 16,706 crore rupees from its current owner, the United Spirits Limited.
The consortium comprises Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy, BXPE (Blackstone). United Spirits Limited yesterday announced that it has entered into definitive agreements for the sale of the 100 percent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited (RCSPL) to a consortium.
The transaction includes RCB’s men’s and women’s (WPL) teams. RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and Women’s Premier League (WPL).
