Saughter and May is advising Diageo on the disposal of the Royal Challengers Bengaluru IPL and WPL cricket franchises

Saughter and May is advising Diageo on the divestiture by its subsidiary United Spirits Limited (USL) of its 100% equity stake in Royal Challengers Sports Private Limited (RCSPL) to a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures, and Blackstone's perpetual private equity strategy, BXPE, for a total consideration of INR166.6bn (USD$1.8bn). 

The transaction is subject to satisfaction of customary closing conditions and legal, regulatory and other approvals, including from the Board of Control for Cricket in India and the Competition Commission of India.