New Delhi, March 30 (IANS). Singapore -based investment firm Temasek has signed an equity agreement to purchase a minority stake in Haldiram. This information was given in the press release released by the company on Sunday.
It is considered to be the largest private equity deal in the consumer sector of India.
The company reported that it has entered into an agreement to purchase equity stake from existing shareholders in Haldiram Snack Food Private Limited. This transaction is under regulatory approval and is expected to be completed soon.
Although no information has been shared by the company about the financial transactions in this equity agreement, Jongsong Investments Private Limited, a subsidiary of Temasake, has contacted the Competition Commission of India (CCI) in March to approve a plan to purchase a plan to purchase a plan to buy about 10 percent in Haldiram.
PWC India has been appointed exclusive Financial Advisor for this deal.
PWC India chairperson Sanjeev Krishna said about the deal that this deal is not only the largest private equity consumer deal in India, but also a reflection of domestic businesses that are improving India’s position at global level.
Haldiram’s spokesperson said on the deal that we are excited to welcome Temasek as an investor and partner. We are ready to intensify our growth and complete the changing consumer demand by using their experience in the consumer field together.
Haldiram is one of the largest food chains in the country. It was established in 1937. The company is famous for its salty, snacks, sweets and packaged foods. The company’s business with India is spread internationally.
The purchase of Temasake in Haldiram shows India’s emerging consumer region.
Temasek has long been an active investor in India’s consumer and food sector. As of 31 March 2024, the company’s net portfolio was $ 288 billion.
-IANS
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