May 19, 2024 17:59 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Arvind Kejriwal to march with AAP leaders to BJP HQs tomorrow with an 'arrest' dare | Adhir Chowdhury won't decide, he will be axed if he doesn't...': Congress chief Mallikarjun Kharge on alliance with Mamata Banerjee | Swati Maliwal assault case: Arvind Kejriwal's aide Bibhav Kumar arrested by Delhi Police | DK Shivakumar offered me Rs. 100 crore to defame Modi: Arrested BJP leader G Devaraje Gowda on Karnataka sex scandal | Swati Maliwal assault case: New video shows AAP MP escorted out of Arvind Kejriwal's home
Blackstone, Abu Dhabi Investment Authority (ADIA) and Singapore's GIC submit bid to acquire Haldiram Snacks Food: Report
Image Courtesy: wikipedia.org

Blackstone, Abu Dhabi Investment Authority (ADIA) and Singapore's GIC submit bid to acquire Haldiram Snacks Food: Report

India Blooms News Service | @indiablooms | 15 May 2024, 12:51 am

Mumbai: A consortium led by Blackstone, the Abu Dhabi Investment Authority (ADIA) and Singapore's GIC has submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food Pvt Ltd (HSFPL), one of India's largest snack and convenience foods companies, reported the Economic Times.

The world's largest private equity fund and its partners aim to acquire 74-76% of the company, valuing it at $8-8.5 billion (Rs 66,400-70,500 crore).

Both ADIA and GIC are limited partners in Blackstone’s global funds.

The bid was submitted late last week, and if successful, it will be the largest private equity buyout in India to date.

HSFPL represents the combined packaged snacks and foods businesses of the Agarwal family’s Delhi and Nagpur factions.

In April 2023, the Competition Commission of India approved the demerger of Haldiram Foods International Private Limited and Haldiram Snacks Private Limited’s FMCG businesses into a new entity called Haldiram Snacks Foods.

Haldiram’s offers a wide range of products under well-known brands such as Haldiram’s, Haldiram’s Prabhuji, Bikanervala, Bhikharam Chandamal, Bikaji, and Bikano.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.