CVC and Torrent Group have entered into a definitive agreement, whereby CVC will sell a majority stake of 67% in the IPL team Gujarat Titans (Irelia Sports India Private Limited) to Torrent Group.
While the deal value has not been disclosed, the transaction values Gujarat Titans at Rs 7,500 crores, placing 67% stake value at Rs. 5,025 crores as per ET.
Anagram Partners acted as the legal advisor to CVC and Gujarat Titans on this transaction.
The transaction team was led by Shuva Mandal (Partner), Ankit Mishra (Partner) and consisted of Aashna Kothari (Principal Associate), Keegan Pavrey (Principal Associate), Rachana Rautray (Principal Associate), Sarthak Parnami (Senior Associate), Ashana Shah (Senior Associate), Anoushka Shetty (Associate) and Siddhant Sahu (Associate).
Anagram had advised CVC group in its successful bid to own and operate Gujarat Titans in 2022.
CVC is a leading global private markets manager with a network of 29 offices throughout EMEA, the Americas, and Asia, with approx. €193 billion worth of assets under management.
Torrent Group, founded in 1959, is an Indian multinational conglomerate with diversified interests in the healthcare & pharmaceuticals, power and energy sectors.
This acquisition marks Torrent Group’s foray into India’s rapidly growing sports sector.
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