Ahmedabad, March 17 -- Torrent Group on Monday said it has completed the acquisition of a 67% majority stake in the Indian Premier League (IPL) franchise Gujarat Titans (Irelia Sports India Private Limited) from Irelia Company Pte Ltd.
A company statement said it has received all necessary approvals, including from the Board of Control for Cricket in India (BCCI).
Previously, on February 12, Torrent and Irelia had announced the signing of definitive agreements for this transaction, subject to customary closing conditions and approvals. With the fulfillment of these conditions, the acquisition has now been successfully completed, the statement said.
As part of the transaction, Irelia, managed by funds advised by CVC, will continue to hold...