India’s competition regulator on Tuesday approved the purchase of IPL franchise Royal Challengers Bangalore by a group including Aditya Birla Group, The Times of India Group, Bolt Ventures and Blackstone. The all-cash transaction is valued at 16,660 crore rupees.
United Spirits had announced the sale of the franchise in March. The regulator confirmed it has cleared the full shareholding transfer to the buyers, which include several investment entities.
Such transactions above set thresholds need regulatory sign-off to ensure fair market practices.
