CCI clears Lakshmi Mittal family, Poonawalla's purchase of Rajasthan Royals, 2 other cricket franchises
The Competition Commission of India has approved the $1.65 billion acquisition of the Rajasthan Royals and two other cricket franchises by the Mittal family and Adar Poonawalla. The deal involves the transfer of ownership of teams in India, South Africa, and Barbados.
Why it matters
This acquisition represents a massive consolidation of global cricket assets by high-net-worth individuals, impacting the sports business landscape.
Competition Commission has approved the acquisition of Rajasthan Royals (India) and two other professional cricket franchises by industrialist Lakshmi N. Mittal and his son Aditya Mittal, along with Adar Poonawalla.
Westview Cricket Ltd and Poonawalla Sports and Fitness Pvt Ltd will be buying Rajasthan Royals (India), Paarl Royals (South Africa) and Barbados Royals (Barbados).
Competition Commission of India (CCI) has approved the acquisition, an official release said on Thursday.
The transaction value is around $1.65 billion.
Westview Cricket, a company registered in the UK, is owned by Lakshmi Mittal family while Poonawalla Sports is owned by Adar Cyrus Poonawalla.
EM Sporting Holdings Ltd (EMSH), a private company incorporated in Mauritius, is the holding company for Royal Multisport Pvt Ltd (RMPL), Paarl Royals Ltd and Barbados Royals Ltd.
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