New Delhi, Fair trade regulator CCI on Tuesday cleared the acquisition of IPL franchise Royal Challengers Bangalore by a consortium of Aditya Birla Group, The Times of India Group, Bolt Ventures and Blackstone in a Rs 16,660 crore all-cash deal.
In March this year, United Spirits Ltd (USL) announced the sale of IPL franchise Royal Challengers Bangalore (RCB) in a Rs 16,660 crore all-cash deal to the consortium.
The Competition Commission of India (CCI) said it has approved the proposed deal.
“CCI approves acquisition of 100 per cent 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.
Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace. PTI
