prithvi.k
on off on off......
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New Delhi: Videocon Industries owner Venugopal Dhoot on Thursday confirmed that he was in talks to buy IPL team Kings XI Punjab that will be put on sale after the end of the tournament.
Dhoot said they were in talks and that price was being negotiated. The deal will be sealed once the terms and conditions are agreed upon by both parties, he added. The Punjab IPL team was bought by the four co-owners for USD 76 million in 2008 and is currently being valued at USD 200 million (Rs 1000 crore).
The four owners, Bollywood actress Preity Zinta, Bombay Dyeing's Ness Wadia, Dabur's Mohit Burman and Apeejay Surendra Group's Karan Paul are planning to exit together and were reportedly looking for a consortium that can buy their stakes.
It was earlier reported that the Venugopal Dhoot-led Videocon Industries has floated a Special Purpose Vehicle (SPV) to pick stake in the Kings XI team. Pune-based builder Atul Chordia is also reportedly part of the SPV.
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Preity Zinta the owner of the Kings XI and Bollywood actor Akshay Kumar cheer on the teams during the IPL T20 match between Delhi Daredevils and Kings XI Punjab on April 19, 2009 in Cape Town, South Africa.
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