CCI clears Mittal family and Poonawalla purchase of Rajasthan Royals for 1.65 billion dollars
Competition Commission approves Mittal family and Poonawalla's 1.65 billion dollar purchase of Rajasthan Royals and two overseas franchises.
The Competition Commission of India has approved the acquisition of Rajasthan Royals and two other franchises by Lakshmi Mittal's family and Adar Poonawalla. Westview Cricket Ltd and Poonawalla Sports and Fitness Pvt Ltd will buy Rajasthan Royals, Paarl Royals and Barbados Royals in a deal worth 1.65 billion dollars.
EM Sporting Holdings Ltd currently holds the franchises through Royal Multisport Pvt Ltd. The transaction requires CCI approval because it exceeds the regulatory threshold.
Lakshmi Mittal's family owns Westview Cricket, a UK-registered company, while Poonawalla Sports belongs to Adar Cyrus Poonawalla.
Filed under Rajasthan RoyalsLakshmi MittalAdar Poonawalla