Singapore-based Temasek Holdings is in discussions to buy a minority stake in Haldiram Snacks, according to a Bloomberg report citing people familiar with the matter. The transaction might value Haldiram at nearly $11 billion.
Talks are ongoing and may not lead to a transaction, according to Bloomberg.
Temasek is holding preliminary talks to buy from 10 per cent to 15 per cent in Haldiram, the people said, asking not to be identified because the matter is private. The investment may serve as a stepping stone towards a potential initial public offering of the company, according to report citing the people.
Haldiram’s has drawn interest from other prospective bidders, the people added.
Founded by Ganga Bishan Agarwal in the 1930s in north India, Haldiram’s sells a range of foods from sweet and savoury snacks to frozen meals and breads. It also runs 43 restaurants in and around Delhi, according to its website.
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