After prolonged negotiations, Singapore government-owned investment firm Temasek is nearing a deal to acquire a 10 per cent stake in the consumer products firm Haldiram Snacks Foods, valued at $10 billion, from the promoters.
Both the Agrawal familyâthe promoters of Haldiram Snacks Foodsâand Temasek have signed a term sheet for the deal, Moneycontrol reported on Tuesday.
Haldiram Snacks Foods is the combined fast-moving consumer goods (FMCG) business of the Delhi and Nagpur families of the snack major.
Temasek was one of several private equity (PE) firms, including Bain Capital and Blackstone, that had made offers to the Agrawal family to purchase a stake in the unlisted firm.
The competing offer from American PE major Blackstone was for a 20 per cent stake but at a lower valuation.
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