Since the inception of the Indian Premier League (IPL), the Indian cricket market has become an attraction to global investors. If, in the future, KKR agrees to join hands with Ares Management, it will be one of the highlights in the Indian cricket industry.
The venture was set up in 2008. If the reports are to be believed, then Jay Mehta-backed Mehta Group is interested in selling a portion of its ownership. In mid-August this year, Moneycontrol in their website reported that Mehta Group was targeting around 20 per cent of their stake with a premium valuation of $1.8 bn.
Ares Management could buy stakes in KKR
When both of the parties will come together to finalize a deal or whether any deal will take place in the future will be interesting to see. The stake sales of the Royal Challengers Bengaluru (RCB) and the Rajasthan Royals (RR) seem to have opened the gates for other investors around the globe.
Ares Management is likely to get only a portion of the ownership
"The RCB and RR deals were majority stake sales. But in the case of KKR, it’s only one of the co-owners, Jay Mehta- led Mehta Group, which plans to offload a minority stake and unlock value. Discussions have been held with Ares Management in this regard, but no final call has been taken as yet," a source close to the development informed the media house.
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