Search

    Language Settings
    Select Website Language

    GDPR Compliance

    We use cookies to ensure you get the best experience on our website. By continuing to use our site, you accept our use of cookies, Privacy Policy, and Terms of Service.

    dailyadda
    dailyadda

    RCB On Sale: Bid Likely To Cross USD 2 Billion, 2 Contenders In Final Stage

    2 hours ago

    2

    0

    👍 ❤️ 😂 😮 😢 😡

    The sale of IPL franchise Royal Challengers Bengaluru (RCB) is entering the final stages with two parties emerging as the final contenders, according to a report.

    The sale of IPL franchise Royal Challengers Bengaluru (RCB) is entering the final stages with two parties emerging as the final contenders, according to a report by The Indian Express. The report claimed that a significant bid was placed by Swedish private equity firm EQT. The other party in the race to buy the IPL 2025 champions is a consortium involving Ranjan Pai of Manipal Hospitals, US private equity firm Kohlberg Kravis Roberts & Co (KKR) and Singapore-based investment group Temasek. While there were multiple parties interested in completing the deal, the likes of the Glazers - co-owners of Manchester United - and Adar Poonawalla backed out of the race.

    The report further claimed that the deal can be valued somewhere around 2 billion dollars. 

    Media reports claimed that the Glazers placed a non-binding offer of 1.8 billion dollars but EQT took their bid up to the 2 billion range. While there has been no other bid, the sale process will be a straight forward bidding war.

    Market insiders indicated that the Diageo group has set a March 31 deadline to finalise the deal.

    Meanwhile, Rajasthan Royals have received plenty of interest from bidders. The franchise has reportedly received binding bids from three interested parties with Aditya Birla Group emerging as the favourities.

    Although the franchise was looking to sell only a majority stake, it seems that they are now open to a full sale.

    The bids have been in the rage of 1.1 billion dollars to 1.35 billion dollars. The sale process is being overseen by Raine Group, which also oversaw the sale of franchises in The Hundred.

    According to the report, Aditya Birla Group and US-based David Blitzer have formed a consortium and they submitted a binding bid for the franchise. The deadline for this deal is also believed to be March 31.

    Click here to Read More
    • Share:
    "Cannot Support Iran War In Good Conscience": Top Trump Official Resigns
    Previous Article
    "Cannot Support Iran War In Good Conscience": Top Trump Official Resigns
    Next Article
    US And Ukraine's Reply After American, 6 Others Arrested On Terror Charges
    US And Ukraine's Reply After American, 6 Others Arrested On Terror Charges

    Related Trending Updates:

    Are you sure? You want to delete this comment..! Remove Cancel

    Comments (0)

      Leave a comment

      Send