British energy drinks company looks to buy Vijay Mallya’s Force India F1 team: Report

A British energy drinks company is looking to buy Force India, the formula one team owned by beleaguered businessman Vijay Mallya, who has been on a self-imposed exile in the UK since March 2016, when he left India.

UK-based Rich Energy is in talks for a 200-million-pound deal to take charge of one of the biggest names in the F1 paddock, reported Business Standard citing a British media report.

Force India finished fourth in the last season of F1 Constructors’ Championship in 2017, after which it has been regarded as one of the leading operations in Formula One.

The team is said to be the most notable property of the fugitive 61-year-old businessman, as a lot of his assets were either seized or frozen after he was charged with cases of money laundering and defrauding Indian banks amounting to Rs 9,000 crore.

According to the media reports, neither Force India nor Rich Energy would officially comment on the negotiations, but it is understood they have gone well so far.

The reports surfaced days after the embattled liquor baron lost a legal battle linked to his now- defunct Kingfisher Airlines after the UK High Court awarded Singapore-based BOC Aviation an estimated $90 million in claims.moneycontrol