Haldiram Snacks Stake to Blackstone Inc. Emerges as Preferred Bidder
Haldiram stake sale to Blackstone – A group led by Blackstone Inc. is now the top choice to buy a minority share in Haldiram’s Snacks Pvt., according to sources familiar with the situation. After months of discussions, a deal may be on the horizon.
Details
Blackstone is working on a deal with GIC Pte from Singapore and Abu Dhabi Investment Authority. They are considering paying about $1.6 billion for a 20% stake in the company. This could value the popular Indian snack company at around $8 billion. Talks are moving forward, and an agreement could be reached in the next few weeks. Other potential buyers are also interested in getting a piece of the action.
Current Status
The discussions are still ongoing, and nothing is set in stone yet. Blackstone has chosen not to comment on the situation, and GIC, ADIA, and Haldiram’s team have not responded to requests for comment. It was founded in the 1930s, offers a variety of snacks, frozen meals, and more. They are also known for their restaurants in and around Delhi. The owners have been exploring different options for the business, including going public or selling a majority stake.
Potential Suitors
Aside from Blackstone, other interested parties include Temasek Holdings Pte from Singapore. It seems like they has caught the attention of some big players in the investment world.