UAE: Modern Pharmaceutical, Thumbay Pharmacies sign "Groundbreaking" agreement
Modern Pharmaceutical LLC (MPC) and Thumbay Pharmacies of the Thumbay Group, in a joint press release announced an agreement that will authorise MPC to take over the management of all operations of Thumbay Pharmacies.
The two companies described the deal as "Groundbreaking and Market Changing Agreements" in UAE.
MPC is a leading healthcare distributor with a successful track record of more than 50 year of market presence representing top global players in pharma, health and consumer care.
Thumbay Group on the other hand is a diversified business conglomerate with operations across 20 sectors, including hospitals, clinics, and pharmacies in UAE and India.
"Two major players in the healthcare sector have agreed to join forces in the pharmacy business authorising MPC to take full operational control of all Thumbay Pharmacies with immediate effect," the press statement stated.
"Thumbay's vision 2021 was to put a stronger focus on the running of its hospital operations, while MPC had a concept offering to run operations for pharmacies as a one-stop-service. Under the innovative agreements, Thumbay will transfer the management and financial governance of its pharmacy estate to MPC’s Patient & Customer Division. Thumbay and MPC will then work together to provide an integrated approach to healthcare provision for Thumbay’s pharmacy customers in hospitals and community settings," it added.
"MPC's concept empowers healthcare organizations to focus on their core business while utilizing MPC’s service excellence, network, systems capabilities, and leadership support to manage and enhance their pharmacy operations benefiting also from MPC’s market presence. “Make medicine and healthcare services more accessible” the same vision and similar corporate values shared by MPC & Thumbay have been a great foundation to frame and seal the partnership. Thumbay pharmacies will be benefiting from MPC’s operational excellence, system applications, partner portfolio, logistics, product security, compliance & marketing to provide the best possible services to patients and pharmacy customers in the UAE. MPC under a fixed term management contract, will take over the entire operational control of all pharmacies while the ownership of the Pharmacy estate will remain with Thumbay Group," it further added.
About MPC:
A part of Albatha Holding, MPC Modern Pharmaceutical Company (LLC) was founded with one primary aim - becoming the leading healthcare distributor in the UAE. Hence, the organization invested in the best physical and digital infrastructure, automation, logistics, and people to guarantee all partners and customers the most advanced facilities and services possible. Over the last decades, the initial vision has become a successful UAE story. MPC is leading the market as the strongest healthcare distributor, providing pharmaceutical, medical, and healthcare products to more than 2,500 pharmacies, hospitals, institutions, retailers, and wholesalers representing global market leaders in the UAE. www.mpchealthcare.com / www.albatha.com
About Thumbay Pharmacies:
Thumbay Pharmacy is a well-known and trusted brand in retail pharmacy services within the UAE and part of Thumbay Group, a UAE-based diversified business conglomerate with operations across 20 sectors. The organization grew to be a well-established healthcare business with thousands of satisfied customers served by its team of committed healthcare professionals. Thumbay Pharmacies always aim to serve as a one-stop solution for all queries on medicines & associated products both in terms of availability and advice. www.thumbaypharmacy.com / www.thumbay.com
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Aditya Birla Group-led consortium acquires RCB for USD 1.78 billion
Bengaluru (PTI): A consortium led by the Aditya Birla Group (ABG) on Tuesday acquired 100 percent equity stake in IPL franchise Royal Challengers Bengaluru for a whopping USD 1.78 billion (approximately Rs 16,706 crore) from its current owner the United Spirits Limited.
Other parties involved in the group are -- Blackstone’s perpetual private equity strategy, BXPE, a firm of which Viral Patel is the CEO, Bolt Ventures, owned by American investor David Blitzer, and media conglomerate Times of India.
“United Spirits Limited, pursuant to the meeting of its Board of Directors, today announced that it has entered into definitive agreements for the sale of the 100 percent equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Limited (RCSPL) to a consortium,” the USL said in a statement.
“The consortium comprises Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy, BXPE (Blackstone) for a total consideration of INR 166.6 bn in an all cash transaction,” the statement added.
The transaction includes RCB's men’s and women’s (WPL) teams.
“RCSPL owns and operates Royal Challengers Bengaluru (RCB) franchises that participate in the Indian Premier League (IPL) and Women’s Premier League (WPL).
“Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise,” said the USL.
The announcement also concluded the strategic review of RCSPL that was initiated by USL on November 5, 2025.
The United Spirits Limited is a subsidiary of UK-Diageo, and they were keen to move away from RCB as the team was not central to their business plans.
Commenting on the transaction, Praveen Someshwar, MD & CEO, USL, said: “This transaction marks an important milestone for USL as we sharpen focus on our core beverage alcohol business to unlock its true potential. RCB has grown into the most prominent and commercially successful franchise in the IPL and WPL.
“We are excited for the future of RCB under the stewardship of the new owner. As Sports enters a new phase of growth in India & globally, we believe this is in the best interest of the franchise and our stakeholders.”
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “Over the past 2 decades, the IPL has morphed to become a global sporting powerhouse that has changed the face of Indian cricket creating enormous value for India.
“RCB, as one of the most compelling franchises in modern sport, offers the Aditya Birla Group a distinctive platform to extend its legacy of institution-building into the arena of global sport.”
As per the sale agreement, Aryaman Vikram Birla, ABG’s director, will be the chairman of RCB while Satyan Gajwani of Times of India will be his deputy.
Aryaman Birla, said: “It is a privilege to come together in this partnership to shape the next phase of growth for RCB. This partnership brings together a deep understanding of sports, media and consumer businesses.
“Together, we will continue to Play Bold -- on the pitch, in the community, and for the fans who make RCB what it is.”
Gajwani, Chairman, Times Internet Limited, said: “RCB is the reigning champion and the most popular brand in the IPL. We will build RCB into a global sporting institution, while remaining rooted in Bengaluru and Karnataka and its incredible fanbase.”
Blitzer hoped to build on RCB’s recent success.
“RCB has a world-class fanbase, and the IPL is one of the great growth stories in global sport. Having invested in clubs and leagues around the world, I believe the opportunity at RCB stands out.
We look forward to working alongside our partners and the BCCI to build on the franchise’s championship success,” he said.
Patel praised the RCB as one of the strongest sporting brands in the world.
“We are excited to invest in RCB, building on Blackstone’s long-standing commitment to India. RCB stands out as one of the most popular sports franchises in the world with a powerful brand, a loyal fan base, and multiple avenues for growth,” he added.
However, formalities such as ratification from the BCCI, IPL Governing Council, its WPL counterpart and the Competition Commission of India are still pending.
Earlier, IPL franchise Rajasthan Royals was acquired by US-based Kal Somani-led consortium for USD 1.63 billion (approx Rs 15,290 crore),
The Somani-led consortium includes Rob Walton from the Walmart family and Hamp family (Ford motor company).
Somani is an Arizona-based tech entrepreneur who has founded IntraEdge (technology services and solutions), Truyo.Ai (data privacy rights and AI governance) and Academian (edtech services).
The other contenders to buy the team, which won the inaugural trophy in 2008, were the Times Internet-led consortium, the Aditya Birla Group and the Mittal family led by ArcelorMittal CEO Aditya Mittal.
