Diageo to Sell Royal Challengers Bengaluru for $1.8 Billion, Reducing Debt

Diageo's sale of Indian cricket franchise Royal Challengers Bengaluru for $1.8 billion will help the UK drinks giant reduce debt. The deal between Diageo's subsidiary United Spirits and a Blackstone-backed consortium comes as Diageo aims to reduce its debt pile, which stood at £10.9 billion at the end of last year. The sale is expected to generate a profit of £300-£400 million for Diageo.