On Thursday, the Competition Commission of India (CCI) approved the acquisition of three professional cricket franchises including Rajasthan Royals in India, Paarl Royals in South Africa and Barbados Royals in Barbados by Westview Cricket Limited and Poonawalla Sports and Fitness.
The proposed combination involves the acquisition of the three franchises, which are held through a Mauritius-based corporate structure. EM Sporting Holdings Limited is the holding company for Royal Multisport Private Limited, Paarl Royals Limited and Barbados Royals Limited. Royal Multisport owns and operates the Rajasthan Royals franchise, which participates in the Indian Premier League.
Westview Cricket is a company registered in the United Kingdom, and is owned by the Lakshmi Mittal family, while Poonawalla Sports is an Indian private limited company wholly owned by Adar Cyrus Poonawalla.
The transaction follows an agreement announced in May 2026 involving a consortium led by the Mittal family and Adar Poonawalla.
The overall transaction was reported at an enterprise value of approximately USD 1.65 billion and includes the Rajasthan Royals IPL franchise and its associated franchises in South Africa and the Caribbean.
The CCI had sought additional information from the parties in August in relation to the proposed transaction.
The transaction also involves a cross-border sports-franchise structure spanning India, South Africa and Barbados, with the three franchises participating respectively in the IPL, South Africa’s SA20 and the Caribbean Premier League.
In a separate approval, the CCI cleared the acquisition of certain additional shareholding in Azure Power Global Limited by OMERS Infrastructure Asia Holdings Pte. Ltd. from CDPQ Infrastructures Asia Pte. Ltd.
OMERS Infrastructure Asia Holdings is an investment entity of OMER Administration Corporation, which administers the Ontario Municipal Employees Retirement System Primary Pension Plan and acts as trustee of pension funds.
Azure Power Global is the parent entity of the Azure group, which is engaged in setting up renewable energy plants, operating them and selling solar power in India.
The CCI has also approved a combination involving the acquisition of 50% of the issued and paid-up equity share capital of Great White Global Private Limited by ISAF III Onshore Fund, India Special Assets Fund III, Special Situation India Fund, Mehul Jadavji Shah, Julie Mehul Shah and Mehul Shah HUF.
The acquisition is proposed to be implemented through Great White Holdings Private Limited, an acquisition special purpose vehicle, followed by its merger with Great White Global.
The transaction also includes the proposed acquisition of sole control over ITVIS Innovations Private Limited by Mehul Shah.
Great White Global is an Indian company operating in the fast-moving electrical goods and electrical infrastructure products segment, while ITVIS Innovations develops and supplies intelligent lighting, automation and smart electrical systems.
