CRICKET
Adani Group and Torrent Group are talking with private equity firm CVC Capital Partners about buying a majority stake in the Indian Premier League team Gujarat Titans.
According to reports, it is estimated that the Gujarat Titans may be worth between $1 billion and $1.5 billion.
CVC Capital Partners acquired the franchise in 2021 for Rs 5,625 crore and the team is three years old now in IPL.
Adani and Torrent are aggressively pursuing a majority stake in Gujarat Titans after they missed the opportunity to own the IPL's Ahmedabad franchise in 2021.
For CVC Capital Partners, it's a great opportunity to monetise its stake in the franchise.