Khaitan & Co, AZB & Partners, Slaughter and May, Touchstone Partners, and Morgan Lewis advised on USD 1.8 Billion acquisition of IPL team Royal Challengers Bangalore (RCB).
A consortium comprising Aditya Birla Group, Bennett Coleman & Co. Ltd., BOLT Ventures, and Blackstone (through its perpetual private equity strategy, BXPE) entered into a definitive agreement to acquire a 100% stake in Royal Challengers Bengaluru (RCB), including both its Indian Premier League (IPL) and Women’s Premier League (WPL) franchises, from United Spirits Limited, a subsidiary of Diageo plc.
The transaction values the franchise at approximately INR 166.6 billion (USD 1.78–1.8 billion) and is subject to customary closing conditions, including approvals from the Board of Control for Cricket in India, the IPL Governing Council, the Competition Commission of India, and other applicable regulatory authorities.
Khaitan & Co advised the buyer consortium on the transaction.
The core deal team comprised Shishir Vayttaden, Aashutosh Sampat, Kartikeya Prakash, Rohan Shrivastava, Surbhi Ajitsaria, Saloni Mehta Bhandawat, Deepali Menghwani, Harishankar Raghunath, Pragyansh Nigam, Tawishi Beria, Samkit Jain, Jahnavi Yalavarthi, Pavitra Khaitan, Aman Nayar, Shrey Chhabra, and Ravi Shankar, with assistance from Nirupam Lodha (Intellectual Property), Manavendra Mishra (Litigation), Vinay Joy and Srishti Ramkrishnan (Employment Law), Supratim Chakraborty (Data Privacy), and Anisha Chand (Antitrust).
AZB & Partners acted as the sell-side advisor advisor and legal counsel to United Spirits Limited.
The team was led by Senior Partner Roxanne Anderson, along with Senior Associates Apoorv Chaturvedi, Yashaswi Rohra, and Devanshi Patel, and Associates Zunhaid Tapia, Parvathy Suresh, Shreya Somani, and Siri Harish.
Slaughter and May and Touchstone Partners advised Diageo plc, the parent company of United Spirits Limited, on the transaction.
The Touchstone Partners team included Yashasvi Mohanram, Vaishnavi Sankar, Niharika Rozwal, Achint Jain, and Nakul Chandra.
Morgan Lewis acted for BOLT Ventures in connection with the transaction.
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
