Torrent gets CCI nod to acquire majority stake in IPL team Gujarat Titans

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Torrent gets CCI nod to acquire majority stake in IPL team Gujarat Titans - Business Standard

Quick Summary:

"The proposed combination relates to the purchase of 67 per cent of the shareholding (on a fully diluted basis) of the target (Irelia Sports India Pvt Ltd) and control by the acquirer (Torrent Investments)," a notice submitted to the CCI said on Wednesday.

The Competition Commission of India has cleared healthcare and energy conglomerate Torrent Group's proposal to acquire a majority stake in IPL franchisee Gujarat Titans.

"The parties' (Irelia Sports India and Torrent Investments) and activities do not exhibit any horizontal overlap, actual/potential vertical relationship or complementary linkages.