CCI Approves Proposed Acquisition Of Royal Challengers Bengaluru Franchise By Aditya Birla-Led Consortium

The Competition Commission of India (CCI) on Tuesday approved the proposed acquisition of 100% shareholding in Royal Challengers Sports Private Limited, the company that owns and operates the Royal Challengers Bengaluru cricket franchise.

The acquisition will be made by a consortium comprising Big Banyan Holdings, Bolt IPL Holdings, Times Internet Limited, Times Cricket LLP, ICQ Opportunities RC Holdco, Asia Investment Topco II and other investors with whom certain acquirers have entered into funding arrangements.

According to a press release issued by the Commission, the proposed combination involves the collective acquisition of Royal Challengers Sports by the acquirers and the funding investors.

The Commission said Big Banyan Holdings, a newly incorporated investment holding company, is part of the Aditya Birla Group.

Bolt IPL Holdings and Times Cricket LLP are newly incorporated entities. They intend to undertake a broad range of activities relating to sports franchise ownership, management and commercialisation. Times Internet Limited is a digital products company with business interests in digital news, advertising services, rewards programmes and event management.

The regulator further said ICQ Opportunities is part of the ICONIQ Group, a global investment firm. Asia Investment Topco II is controlled by funds advised or managed by affiliates of Blackstone Inc.

Royal Challengers Sports primarily owns and operates the Royal Challengers Bengaluru franchise. This includes the Bengaluru-based teams that compete in the Indian Premier League (IPL) and the Women's Premier League (WPL).

The Commission said a detailed order will follow