Mukesh Ambani in contention to buy IMG Worldwide
Zeenews Media Bureau
New Delhi: Reliance Industries chairman Mukesh Ambani is reportedly in talks to buy reputed sports management company IMG Worldwide.
A leading news daily on Saturday quoted a Reliance official as saying that the negotiations are at an advanced stage but the deal hasn’t yet been finalised.
Private equity firm Forstmann Little & Company put its management company that represents sports and fashion industry for sale in February this year and is expected to fetch in excess of USD 2 billion.
Forstmann Little chose Morgan Stanley to find a buyer for IMG on Thursday.
The sports management agency represents global sporting stars such as Rafael Nadal, Novak Djokovic among others.