India, March 25 -- United Spirits Ltd (USL) has announced the sale of its IPL franchise Royal Challengers Bengaluru in an all-cash deal valued at Rs 16,660 crore.
The company has entered into definitive agreements to divest its 100% stake in Royal Challengers Sports Pvt Ltd (RCSPL) to a consortium comprising Aditya Birla Group, The Times Group, Bolt Ventures, and Blackstone.
USL, a part of global beverage major Diageo, stated that the transaction has been approved by its Board and marks a complete exit from the franchise through this strategic stake sale.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....