The Competition Commission of India has cleared the acquisition of Rajasthan Royals, Paarl Royals, and Barbados Royals by Westview Cricket and Poonawalla Sports.
The Competition Commission of India (CCI) has approved the acquisition of three professional cricket franchises—Rajasthan Royals (India), Paarl Royals (South Africa), and Barbados Royals (Barbados)—by industrialist Lakshmi N. Mittal, his son Aditya Mittal, and Adar Cyrus Poonawalla.
According to an official release on Thursday, the franchises will be acquired via Westview Cricket Ltd and Poonawalla Sports and Fitness Pvt Ltd. Westview Cricket is a UK-registered firm owned by the Lakshmi Mittal family, while Poonawalla Sports is owned by Adar Cyrus Poonawalla.
The targeted entities are held under EM Sporting Holdings Ltd (EMSH), a private company incorporated in Mauritius that acts as the holding company for Royal Multisport Pvt Ltd (RMPL), Paarl Royals Ltd, and Barbados Royals Ltd. RMPL owns and operates the Rajasthan Royals franchise, which competes in the Indian Premier League (IPL) T20 tournament organized by the Board of Control for Cricket in India (BCCI).
Transactions exceeding a designated threshold require approval from the CCI, which serves as India's regulator to monitor unfair business practices and ensure fair competition in the marketplace.
Reporting sourced from The Hindu Cricket. Photo courtesy The Hindu Cricket.