Torrent Group Acquires Majority Stake in Gujarat Titans
Deal News | Feb 12, 2025 | CVC Capital Partners
Torrent Group, a diversified conglomerate involved in healthcare and energy, is entering India's burgeoning sports sector by acquiring a 67% majority stake in the Indian Premier League (IPL) franchise, Gujarat Titans. This deal establishes Torrent's foray into sports via its holding company, Torrent Investments Private Limited (TIPL). The acquisition is being made from Irelia Company Pte Ltd, which is fully owned by CVC Capital Partners. CVC will continue to hold a substantial minority stake of 33%. The agreement awaits customary regulatory approvals, including clearance from the Board of Control for Cricket in India (BCCI). This strategic collaboration is expected to offer significant growth and collaboration opportunities.
Sectors
- Sports and Entertainment
- Private Equity
- Healthcare and Energy
Geography
- India – The acquisition pertains to the Indian Premier League and involves an Indian business group, highlighting India as the primary geographical focus.
- Global – CVC Capital Partners is an international private equity firm, suggesting a global aspect to the transaction.
Industry
- Sports and Entertainment – The acquisition involves an IPL franchise, which falls within the sports segment, indicating Torrent's entry into the sports sector.
- Private Equity – CVC Capital Partners, a major private equity firm, is involved in the transaction as the current owner of the Gujarat Titans.
- Healthcare and Energy – Torrent Group is a diverse conglomerate with interests in healthcare and energy, sectors which provide the financial backing for its sporting ventures.
Financials
- 67% – Majority stake in Gujarat Titans being acquired by Torrent Group.
- 33% – Minority stake in Gujarat Titans retained by Irelia Company Pte Ltd, fully owned by CVC.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Torrent Group | Bidding Company | Company | Diversified conglomerate acquiring a majority stake in Gujarat Titans. |
| Gujarat Titans (Irelia Sports India Private Limited) | Target company | Company | Indian Premier League (IPL) franchise being partially acquired. |
| Irelia Company Pte Ltd | Selling Company | Company | Currently owns Gujarat Titans and is selling a majority stake to Torrent Group. |
| CVC Capital Partners | Private Equity Firm | Company | CVC Funds currently fully own Irelia Company Pte Ltd, the current owner of Gujarat Titans. |
| Jinal Mehta | Director | Person | Director at Torrent Group, speaking on the occasion of the acquisition. |