The Royal Challengers Bengaluru (RCB)is on sale, and five strong contenders to purchase the franchise rights for the 2025 Indian Premier League champions
have come to the fore, Adar Poonawalla being the front-runner. According to reports, Poonawalla's Serum Institute is also in the list of potential buyers that also include Gautam Adani's Adani Group, Parth Jindal via JSW Sports, and a Delhi-based businessman.
Notably, Diageo India, the current majority stakeholders, are interested in selling off a part of their holdings through a private placement of shares. It is currently unclear regarding the valuation at which the deal is signed, but if rumours are to be believed, the Bengaluru-based franchise may seek a value of at least US $2 billion for the latest term sheet.
"It is understood that quite a few Indian and American parties have had conversations with the Diageo management and some of them, as out in the public, are Adar Poonawala of Serum Institute and Parth Jindal of the JSW Group. The Adani Group and a famous business tycoon based out of Delhi with interests in multiple sectors are also believed to be keen on acquiring it. Apart from the four mentioned above, two private equity companies based in the US are also weighing options," Cricbuzz said in its report.
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