JSW buys half stake of Daredevils
9 March 2018 5:22 PM GMT
new delhi: GMR Group (owners of Delhi Dare on Friday announced that it has entered into an agreement with JSW Sports for a 50:50 partnership in DD owned by GMR Sports Private Limited (GSPL). GSPL is owned by the Promoters of the GMR Group.
On consummation of the transaction, JSW Sports Private Limited will hold 50% stake in GSPL. The sale is subject to approval from BCCI and satisfaction of other customary conditions precedent.
"This relationship between GMR and JSW opens up powerful synergy going forward for both the groups. It is symbolic of immense potential for Sports and Cricket in particular in the region, after having nurtured the Franchisee for the last 10 years," GMR Chairman Grandhi Kiran Kumar said.
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