The commission stated that the proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target by the acquirers
The Competition Commission of India (CCI) has approved the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food by Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP.
The commission stated that the proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target by the acquirers. The acquirers are private equity funds, CCI noted.
CCI added that the target, including its affiliates, is engaged in the manufacture and sale of packaged food products in India, such as snacks, sweets, ready-to-eat products, dairy products, bakery products, chocolates, and non-carbonated ready-to-drink beverages.
On 31 March, Haldiram, a snack and food brand, confirmed selling its stake to International Holding Company (IHC) and Alpha Wave Global, as per the report, which added that Alpha wave is a global investment company that focuses on private equity, private credit and public markets. On the other hand, IHC is an investment company.
