The race to acquire IPL 2025 champions RCB seems to have intensified with the entry of a new bidder in the form of Aditiya Birla Group in partnership with American sports investor David Blitzer, who are considering bidding for RCB, according to a report in Moneycontrol.
The Report
“The Birla-Blitzer consortium, which had thrown its hat in the ring for RR, is now also evaluating an entry into the parallel race for RCB. Binding bids for both IPL teams, RCB and RR, were submitted nearly simultaneously earlier this week, and it’s an immensely dynamic situation,” a source told Moneycontrol.
The Value
Talking about the estimated value of the sale of RCB, the source said, “Though the sell-side asks for a 100 per cent stake in RCSPL, which is around $2bn, a few prospective suitors are keen to value the target between $1.5 bn and $1.7 bn. Further clarity will emerge on valuations post due diligence, during the binding bid stage, “ the report said.
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The Bid
The consortium of Aditiya Birla Group and American sports investor David Blitzer has also bid for the acquisition of the Rajasthan Royals and if it submits an official bid to acquireRCB irwill became threeway tie with consortium led by Manipal Hospitals’ Dr Ranjan Pai, US private equity firm KKR and Singapore investment major Temasek and the combination of Swedish private equity firm EQT and Premji Invest, the investment office backed by Wipro founder Azim Premji being the other two bidders.
The Bidders
While there were many bidders who were interested in acquiring RCB, including the likes of the Glazers, co-owners of Manchester United, and Adar Poonawalla, both of them backed out, with only three remaining as of now, with the March 31 deadline set by the Diageo group, according to market insiders.
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