Acquisition of Cricket Franchises by Westview Cricket and Poonawalla Sports

SUMMARY OF THE COMBINATION UNDER REGULATION 13(2) OF THE COMPETITION COMMISSION OF INDIA (COMBINATIONS) REGULATIONS, 2024

A. Name of the Parties to the Combination

1. The parties to the combination are –

• (i) Westview Cricket Limited (Westview Cricket);
• (ii) Poonawalla Sports And Fitness Private Limited (Poonawalla Sports) (collectively, the Acquirers);
• (iii) EM Sporting Holdings Limited (EMSH), and
• (iv) Royal Multisport Private Limited (RMPL).

2. EMSH and RMPL are collectively referred to as the Targets. The Acquirers and the Targets are collectively referred to as the Parties.

B. Nature and Purpose of the Combination

3. Broadly, the proposed transaction relates to the acquisition of three professional cricket franchises, (i) Rajasthan Royals (India), (ii) Paarl Royals (South Africa) and (iii) Barbados Royals (Barbados), by the Acquirers.

4. The proposed transaction is broadly in the nature of an acquisition and is notifiable to the Hon’ble Commission under Section 5(d) of the Competition Act, 2002

C. Products, services and business(es) of the Parties to the Combination

Acquirers

Westview Cricket

5. Westview Cricket is a company registered in the United Kingdom.

Poonawalla Sports

6. Poonawalla Sports is a private limited company incorporated in India on 20 January 2025. Poonawalla Sports is wholly owned by Mr. Adar Cyrus Poonawalla.

Targets

7. EMSH is a private company limited by shares incorporated and registered in Mauritius. It is the holding company for RMPL, Paarl Royals Ltd., and Barbados Royals Ltd.

8. RMPL owns and operates the Rajasthan Royals franchise, which participates in the Indian Premier League T20 cricket tournament organized by the Board of Control for Cricket in India since 2008.

D. The respective markets in which the Parties to the Combination operate

9. The Acquirers submit that they are not engaged in any business that overlaps with the business of the Targets (including their Affiliates) in India, in any of the plausible relevant markets. Accordingly, the proposed transaction is not likely to cause any appreciable adverse effect on competition in India.