United Spirits is aiming to sell its stake in Royal Challengers Bengaluru. The sale includes the IPL and WPL teams. 

According to a note shared by United Spirits, the process is expected to be completed by the end of this financial year (31 March), as the company aims to focus on its core alcobev business.

Praveen Someshwar, managing director and CEO, United Spirits, said, “RCSPL has been a valuable and strategic asset for USL, however it’s non-core to our alcobev business.This step reinforces USL’s and Diageo’s commitment to continue reviewing its India enterprise portfolio to enable sustained delivery of long-term value to all its stakeholders, while keeping RCSPL’s best interest in mind."

In June this year, the company had distanced itself from rumours about the sale.