The business value of the league, popularly called the IPL, surged to a record $18.5 billion last year, U.S.-based investment bank Houlihan Lokey says.
Pharma tycoon Adar Poonawalla has emerged as a potential suitor for the Indian Premier League franchise Royal Challengers Bengaluru, sparking fresh speculation around a possible change in ownership of one of the league's most high-profile teams.
Diageo's India arm will begin a strategic review of its investment in a unit which owns the IPL team Royal Challengers Bengaluru, the spirits maker said on Wednesday.
The Indian Premier League's overall brand value declined by 20 per cent to $9.6 billion in 2025 due to lost momentum in the league caused by tensions between India and Pakistan, and teams adjusting to their squad composition post the auction.
It is not yet clear if Diageo Plc is looking to sell its complete stake in RCB.
'We have just scratched the surface because cricket has been around for the longest time.'
Organised by TCM Sports, Cricket West Indies' long-term strategic partner, the the Golf Day brought together cricketing legends, global business leaders, and sporting icons on one stage, marking a celebration of West Indies cricket in the company of some of the formidable forces of the game such as Sir Vivian Richards, Brian Lara, and Sir Richie Richardson.
'Our approach has been to work with consumers and help them drink better, not more.'
Ivan Manuel Menezes, the India-born CEO of the world's biggest spirits company Diageo, died on Wednesday, days after being hospitalised for treatment of stomach ulcer. Menezes, 64, who was to retire at the end of this month, died in London, the company said. "It is with great sadness that Diageo announces that Sir Ivan Menezes has passed away following a brief illness, with his family at his side," it said in a statement. Diageo had on Monday announced that CEO-designate Debra Crew will assume the top role on an interim basis immediately as Menezes undergoes medical treatment.
Royal Challengers Bengaluru's senior official Nikhil Sosale was arrested over the June 4 stampede in Bengaluru during RCB's IPL title triumph celebrations on June 4.
The Central Bureau of Investigation has registered a fresh case of corruption against former finance minister P Chidambaram's son and Congress MP, Karti Chidambaram, for allegedly giving relief to alcoholic beverage company Diageo Scotland over a ban on the duty-free sale of its whisky, officials said on Thursday.
RCB claimed that CAT's order didn't adhere to the principles of natural justice.
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
'I remember tears rolling down uncontrollably as I told her that I wanted to be able to sing again. I begged her to please do something.'
At the heart of Friday's case lay an ICICI Bank loan owed by Mallya's Watson and CASL, for which Diageo stepped in as a backstop so that it could be refinanced by Standard Chartered Bank.
Diageo Western Europe President John Kennedy would will take responsibility for Russia, Eastern Europe and Turkey as President, Diageo Europe.
The company hires Accenture for financial re-engineering, including slashing of debt ratios; changes to be visible soon
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Diageo, which recently coughed up a total of Rs 18,000 crore (Rs 180 billion) to take majority control of USL, seems to have a lot of faith in him.
The acquisition of United Spirits will arm Diageo with a formidable mass-market portfolio, but consumers are up-trading rapidly.
Additional 26% stake to be bought next week; Diageo said to be considering raising the price.
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
Diageo, the world's largest distiller, has been focusing on compliance at United Spirits Ltd (USL) after its acquisition of a controlling stake in India's largest spirits maker.
Market regulator Sebi has sought additional details from global liquor giant Diageo with regard to its Rs 5,441 crore (Rs 54.41 billion) open offer for acquiring 26 per cent stake in UB Group firm United Spirits Ltd.
Three splashy cocktails to knock your guests' socks off.
TCS will manage Diageo's global IT infrastructure, data centres and servers, in addition to providing service desk support to employees, TCS said in a statement.
According to various senior UB Group officials, the strategy of 14 power brands' focus is expected to be rolled out soon.
The company contented before the tribunal that the amount was paid outside India.
The move by United Spirits, the Rs 3,500-crore flagship spirits firm of the UB Group, to rope in Diageo as a strategic partner is taking more time than expected. Diageo, a global leader in spirits, is reported to have said it was yet to figure out a structure under which they could forge a strategic relationship with USL.USL has been actively involved in discussions with Diageo for nearly eight months now.
The money was paid to Mallya in two tranches in his offshore accounts.
Stakeholders' Empowerment Services (SES) has advised Diageo to renege on its deal with United Spirits (USL) chairman Vijay Mallya.
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
The companies have postponed their open offer, too.
On November 9, 2012 Diageo had announced buying a 53.4 per cent stake in USL for Rs 11,166.5 crore (Rs 111.66 billion) in a multi-structured deal.
Soon after acquiring strategic management control of Vijay Mallya's crown jewel, United Spirits, Diageo has swung into action, making up for years of lost time in trying to figure out the Indian market.
Diageo on Thursday took full control of South African beer maker United National Breweries.
He led the company's acquisition of United Spirits.
Mallya and UBHL now hold a little over 3.3 per cent in USL.
The offer price remains the same at Rs 1,440 per share.
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