The media reports state that after months of negotiations, the agreement was signed on 11 March
Valuing the company at around USD 10 billion, Temasek, a sovereign private equity giant of Singapore is likely to acquire a 9 to 10 per cent stake in Haldiram Snacks Foods for over Rs 8,500 crore, as per the media reports.
Haldiram Snacks Foods is the parent entity of Haldiram’s which is a well-established player in the country’s snacks market. Indicating more foreign investments going ahead, media reports state that this acquisition is one of the largest deals in the country’s fast-moving consumer goods (FMCG) segment in the recent times.
The media reports added that after months of negotiations, the agreement was signed on 11 March as Temasek came out as the highest bidder for the minority stake. As per the reports, Temasek is eyeing to strengthen its presence in the consumer sector in India which is rising at a rapid pace.
While Temasek secured the deal for the minority stake, the promoter family is considering to sell another five per cent stake for which discussions are underway with other PE giants like Blackstone and Alpha Wave Global, as per the media reports which cited the sources.
