CVC Capital Partners has sold its 67% stake in the Gujarat Titans cricket team to the Torrent Group for INR 50 billion (~USD 575 million).
Information on the Target
The Gujarat Titans, an India-based professional cricket team, has made significant strides in the Indian Premier League (IPL) since its inception. Known for its competitive edge and strong fan base, the team quickly established itself as a formidable player in the league. CVC Capital Partners, the previous majority stakeholder, held a 67% stake in the team and played a crucial role in its early development and market positioning.
As part of this agreement, CVC has reached a deal to sell its majority stake in the Gujarat Titans to the Torrent Group for approximately INR 50 billion (around USD 575 million). This transaction marks a significant transition for the franchise, paving the way for new strategic initiatives under the new ownership.
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Industry Overview in India
The cricket industry in India is a multi-billion dollar enterprise that garners immense national attention and support. The Indian Premier League (IPL) is one of the most lucrative and widely viewed cricket leagues globally
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Torrent Group
invested in
Gujarat Titans
in
in a Other Private Equity deal
Disclosed details
Transaction Size: $575M