United Spirits Limited, Diageo's Indian subsidiary, agreed to sell its 100% stake in Royal Challengers Sports Private Ltd for INR 166.6 bn ($1.97 bn).
The buyer consortium includes Aditya Birla Group, Times of India Group, Bolt Ventures, and Blackstone’s BXPE, acquiring IPL and WPL franchise rights.
Transaction follows a strategic review launched on 5 Nov 2025 and awaits approvals from BCCI and the Competition Commission of India.
Citigroup and Deutsche Bank acted as financial advisors, while AZB & Partners, Slaughter & May, and Touchstone Partners provided legal counsel.