India, Feb. 12 -- Healthcare and energy conglomerate Torrent Group on Wednesday announced an agreement to acquire 67% stake in Indian Premier League (IPL) franchise, Gujarat Titans from Irelia Company Pte Ltd for an undisclosed amount.

Torrent Group "through its holding company Torrent Investments Private Limited (TIPL) has entered into a definitive agreement to acquire a majority stake of 67 per cent in the renowned Indian Premier League (IPL) franchise, Gujarat Titans," it said in a statement.

Irelia Company Pte Ltd, which is currently owned by funds managed or advised by CVC, will retain a substantial minority stake of 33% in the franchise as part of the deal, the Torrent Group said in a statement

The transaction is subject to custo...