United Spirits Ltd. (USL), the Indian arm of London-based Diageo, is initiating a strategic review of investment in its wholly owned subsidiary, Royal Challengers Sports Pvt. Ltd. (RCSPL), the company that owns the Royal Challengers Bengaluru (RCB), the firm said in a regulatory filing on Wednesday.

Praveen Someshwar, Managing Director & CEO, USL said: “RCSPL has been a valuable and strategic asset for USL; however, it’s non-core to our alcobev business.’’

“This step would reinforce USL’s & 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,” Someshwar added.

According to the statutory document, RCSPL’s business comprises ownership of both the men’s

See Full Page