Petronas seeks major stakes of Kings XI Punjab franchise

Petronas, a Malaysia-based oil and gas company is emerging out as a front runner in buying the major stakes in IPL franchise of Kings XI Punjab. The company is looking at acquiring 26-49 per cent stakes in the Kings XI Punjab franchise.

The franchise of Kings XI Punjab is primarily owned by Bollywood actress Preity Zinta; Mohit Burman and Gaurav Burman of the Dabur family; Joint Managing Director of Bombay Dyeing, Ness Wadia and Chairman of Apeejay-Surrendra Group, Karan Paul.

With the Petronas deal, Ness Wadia will be looking at an exit from the cricketing franchise, and Petronas along with Preity Zinta will emerge as major stakeholders.