Birla-Backed Consortium Takes Lead in Royal Challengers Bengaluru Acquisition Talks

Royal Challengers Bengaluru Acquisition Update

A consortium comprising Aditya Birla Group, David Blitzer, Blackstone, and Times of India has emerged as the front-runner to acquire Diageo-owned Indian Premier League (IPL) franchise Royal Challengers Bengaluru.

According to industry sources, an official announcement on the proposed transaction is expected shortly. The consortium has been in talks with Diageo and has gained a competitive edge in the bidding process.

The proposed acquisition marks a significant development in the Indian sports industry, with multiple suitors vying for control of Royal Challengers Bengaluru. Notable suitors who had submitted binding bids earlier include a consortium led by Dr. Ranjan Pai of Manipal Hospitals, KKR, Temasek, and a combine of EQT and Premji Invest, the investment arm of Wipro founder Azim Premji.

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The promoter family of Arcelor Mittal, led by CEO Aditya Mittal, is also reportedly considering a bid for RCB. The competitive intensity in the last leg of the transaction may lead suitors to increase their bids, with a valuation range of $1.5 billion to $1.7 billion being considered.

Key Figures:

• $2 billion: Sell-side ask for a 100% stake in RCSPL
• $1.5 billion to $1.7 billion: Valuation range being considered by suitors
• March 24: Date of Moneycontrol report on Blackstone's talks with Aditya Birla Group and David Blitzer
• March 6: Date of Moneycontrol report on Aditya Birla Group and David Blitzer's pivot to pursue Royal Challengers Bengaluru
• January 28: Date of Moneycontrol report on valuation range for RCB
• July 28: Date of Moneycontrol report on valuation range for RCB