REG - Diageo PLC - Diageo subsidiary USL announces divesture in RCB

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RNS Number : 9803X  Diageo PLC  25 March 2026

Diageo subsidiary United Spirits Limited announces full divesture of its stake
in Royal Challengers Sports Pvt Ltd

Diageo plc subsidiary, United Spirits Limited (USL), has announced it has
entered into definitive agreements for the sale of its 100% equity stake in
Royal Challengers Sports Private Limited (RCSPL) to a consortium comprising
Aditya Birla Group ("ABG"), The Times of India Group ("Times"), Bolt Ventures
("Bolt"), and Blackstone's perpetual private equity strategy, BXPE
("Blackstone") for a total consideration of INR 166.6 billion.

RCSPL owns and operates the Royal Challengers Bengaluru franchises
that participate in the Indian Premier League (IPL) and Women's Premier
League (WPL). Upon completion of this transaction, the acquiring consortium
will, through its ownership of RCSPL, acquire the rights to own
and operate the IPL and the WPL franchises.

This announcement concludes the strategic review of RCSPL initiated by USL,
as announced on 5 November 2025
(https://www.bseindia.com/xml-data/corpfiling/AttachHis/2735940f-7be5-4ea1-8c49-2a240975b3b5.pdf)
.

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.

Further details of the transaction can be found here
(https://www.bseindia.com/xml-data/corpfiling/AttachLive/f299b7e9-9f47-4a68-babf-b0c75fafa933.pdf)
.

USL was represented by Citigroup as its lead financial advisor, while AZB
& Partners served as legal counsel. Diageo plc was advised by Deutsche
Bank as its strategic financial advisor, and received legal counsel from
Slaughter and May, as well as Touchstone Partners.

 
…….…………………….…………………………ENDS………………………………………………

For further information please contact:

Investor relations:

 Sonya Ghobrial     +44 (0) 7392 784 784
 Andrew Ryan        +44 (0) 7803 854 842

 Grace Murphy       +44 (0) 7514 726 167

                    investor.relations@diageo.com (mailto:investor.relations@diageo.com)

 Media Relations:
 Rebecca Perry      +44 (0) 7590 809 101

 Clare Cavana       +44 (0) 7751 742 072
 Abigail Farrell    +44 (0) 7510 360 547
                    press@diageo.com (mailto:press@diageo.com)

 

 

About Diageo

Diageo is a global leader in beverage alcohol with an outstanding collection
of brands across spirits and beer categories. These brands include Johnnie
Walker, Crown Royal, JεB and Buchanan's whiskies, Smirnoff and Ketel One
vodkas, Captain Morgan, Baileys, Don Julio, Tanqueray and Guinness.

Diageo is a global company, and our products are sold in nearly 180 countries
around the world. The company is listed on both the London Stock Exchange
(DGE) and the New York Stock Exchange (DEO). For more information about
Diageo, our people, our brands, and performance, visit us at www.diageo.com.
Visit Diageo's global responsible drinking resource, www.DRINKiQ.com for
information, initiatives, and ways to share best practice.

Celebrating life, every day, everywhere.

About the Acquiring Consortium

The Acquiring Consortium brings together partners with complementary strengths
across sport, media, technology, and brand-building

Aditya Birla Group is one of India's largest and most respected conglomerates,
with operations spanning over 40 countries and a legacy of over 165 years.

The Times of India Group is one of India's largest media conglomerates and
operates the most comprehensive cricket ecosystem in the world, encompassing
Cricbuzz, Willow TV, Major League Cricket, and the London Spirit.

Bolt Ventures is the private investment platform of David Blitzer, one of the
most prominent sports investors in the world, with ownership stakes across the
EPL, NBA, NHL, NFL, MLB, MLS, and other leagues across five continents.

Blackstone is the world's largest alternative asset manager, with $1.3
trillion in assets under management across global investment strategies.

 

 

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