India’s Largest Snacks Manufacturer is all set to sell stakes in its business. Read More>>
Bain Capital joins forces with Temasek to compete against Blackstone for a controlling stake in Haldiram Snacks Food Pvt Ltd.
Bain and Temasek's non-binding offer values Haldiram at $8-8.5 billion, making it potentially India's largest private equity acquisition.
Blackstone, partnered with ADIA and GIC, aims to acquire up to 76% of Haldiram. Bain and Temasek's bid poses significant competition.
Bain has been in talks with Haldiram's founding family for seven months, focusing on minority investments initially. The family now considering offloading a majority stake.
The deal aims to coincide with Haldiram's National Company Law Tribunal (NCLT) approval of the merger, expected in 3-4 months, to ensure a smooth transaction.
Both Bain and Blackstone seek a change in management control of Haldiram. Bain may include other LPs and partners depending on the final stake.
While non-binding bids are submitted, final negotiations remain uncertain. The outcome will depend on various factors, including valuation expectations.