Satyan gajwani

Aditya Birla Group: A consortium led by Aditya Birla Group and the Times of India Group has acquired the defending Indian Premier League (IPL) champions Royal Challengers Bengaluru (RCB) for USD 1.78 billion (Rs 16,725 crore approx), a news report claimed on Tuesday.

Bolt Ventures (Bolt) and Blackstone's perpetual private equity strategy (BXPE, Blackstone) are the other members of the consortium that have jointly bought the Royal Challengers Bengaluru, one of the eight original franchises of the IPL that was formed ahead of the inaugural edition in 2008, Cricbuzz said in a report on Tuesday.

The report claimed that the consortium of the four groups signed a definitive agreement with United Spirits Limited (USL), a subsidiary of the UK's Diageo plc, to acquire a 100 percent stake in RCB. The acquisition involves both men's and women's teams at the IPL and WPL.