Malaysian Petronas to emerge as major stakeholder of Kings XI Punjab

After the poor performance of the team Kings XI Punjab in IPL league 2010, its co-owners have decided to sell the team. And now the Malaysian energy major, Petronas is deciding to acquire maximum stake in IPL franchisee of Kings XI Punjab,

The Petronas is planning to take 26%-49% of Kings XI Punjab’s ownership.

Currently the owners of Kings XI Punjab are Bollywood actress Preity Zinta, Mohit and Gaurav Burman of the Dabur family, Bombay Dyeing joint managing director Ness Wadia and Karan Paul, chairman of Apeejay-Surrendra Group.

Petronas entry in the cricketing franchise will surely make Ness Wadia’s exit from the league who has already lost so much for the team. However the Burmans would stay back or not is still doubtful.