POONAWALLA

After falling short in previous attempts to acquire the Royal Challengers Bengaluru and losing the initial bidding war for the Rajasthan Royals, the Mittal family has finally secured a majority stake in the latter, proving that the third time is the charm. The family of steel magnate Lakshmi N. Mittal has signed a definitive agreement to acquire Rajasthan Royals in partnership with vaccine king Adar Poonawalla, in a transaction valued at approximately $1.65 billion.