Haldiram stake sale: A Blackstone-led consortium can buy stake in Haldiram, a namkeen, sweets and snacks manufacturing company. Abu Dhabi Investment Authority and Singapore State Fund GIC Pte, included in the Blackstone consortium, will pay $ 1.6 billion to buy 20 p.c stake in Haldiram. Talks had been occurring between the two events relating to this deal for the final a number of months. Now the Blackstone-led consortium has emerged as the most most popular bidder to buy stake in Haldiram. After completion of this deal, the valuation of Haldiram is estimated to be 8 billion dollars (about Rs 70000 crore).
Blackstone consortium can buy stake
According to Bloomberg’s report, the talks between the two events relating to the deal are in the superior stage and an settlement on this deal is anticipated in the subsequent few weeks. However, another firms are additionally displaying curiosity in shopping for stake in Haldiram and in keeping with the report, they will additionally bid to buy stake in the company. Singapore’s Temasek Holdings Pte can be amongst the potential consumers to buy the stake.
Earlier there have been experiences of taking majority stake.
A number of months in the past, it was reported that the Blackstone led consortium was getting ready to accumulate majority stake in Haldiram. But now the company can buy solely 20 p.c stake. However, no remaining determination has been taken but. Blackstone’s consultant has refused to say something about talks with Haldiram to buy the stake.
Promoters are additionally contemplating bringing IPO
Haldiram’s was began in 1930. The company is kind of well-known for its salty Bhujia product. Haldiram’s portfolio has turn into very various. Apart from namkeen, sweets are additionally accessible in Haldiram’s eating places. Haldiram additionally exports its merchandise to many international markets like Singapore and America. Let us inform you, final 12 months it was reported that Tata Group can be attempting to buy Haldiram. At that point the valuation of the company’s enterprise was estimated at $10 billion. However, then this information got here to be refuted. Haldiram’s promoters are contemplating choices like promoting majority stake together with bringing the company’s IPO.
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