A consortium led by India’s Aditya Birla Group has agreed to acquire Indian Premier League (IPL) franchise Royal Challengers Bengaluru (RCB) in a transaction valuing the franchise at approximately $1.8bn, according to a report by Bloomberg.
The buyer group includes The Times of India Group, Bolt Ventures and Blackstone, marking the private equity firm’s first investment in a professional sports team. It is the first sports team investment for Blackstone, which is investing through its Private Eq...
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