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Time of India
21-05-2025
- Business
- Time of India
CCI okays Temasek Holdings minority stake purchase in Haldiram Snacks Food
The Competition Commission of India on Tuesday approved Singapore's Temasek Holdings proposed acquisition of a minority stake in Haldiram Snacks Food . Temasek Holdings through its arm Jongsong Investments Pte is acquiring a stake in the target company. "The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target ( Haldiram Snacks Food Pvt Ltd) by the acquirer (Jongsong Investments Pte)," the Competition Commission of India (CCI) said in a release. Haldiram Snacks Food is the combined business of the two fractions of the Haldiram family - Delhi and Nagpur. The National Company Law Tribunal has already approved the process of merger of the two fractions, while other regulatory approvals are awaited. "Commission approves the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Pvt Ltd (target) by Jongsong Investments Pte Ltd (acquirer)," it added. Established in 1937 as a retail sweets and namkeen shop in Bikaner, Rajasthan by Ganga Bhishen Agarwal, Haldiram products are now sold in over 80 countries. In 2022, it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food. In a separate release, CCI on Tuesday approved the acquisition of majority stake/control over Nazara Technologies Ltd by Axana Estates LLP , Plutus Wealth Management LLP and Junomoneta Finsol Pvt Ltd. Axana is an LLP incorporated in India. Axana currently does not undertake any business activities or hold any investments and its proposed business involves real estate and business of dealing in shares and securities and other financial instruments. "Commission approves acquisition of majority stake/control over Nazara Technologies Ltd by Axana Estates LLP, Plutus Wealth Management LLP and Junomoneta Finsol Pvt Ltd," the competition watchdog said. Plutus is engaged in the business of stock and commodity broking, trading and investments in stock, commodities, and related businesses and Junomoneta Finsol is engaged in the business of proprietary stock broking and trades in equity, commodity and derivative markets. Nazara functions as a diversified platform in gaming and sports media. Additionally, it is active in the skill-based real money gaming segment and is also engaged in esports events and offers a multi-sports content platform catering to sports enthusiasts in India and the United States. Deals beyond a certain threshold require approval from the regulator, which keep a tab on unfair business practices as well as promotes fair competition in the marketplace.
Economic Times
20-05-2025
- Business
- Economic Times
CCI okays Temasek Holdings minority stake purchase in Haldiram Snacks Food
The Competition Commission of India on Tuesday approved Singapore's Temasek Holdings proposed acquisition of a minority stake in Haldiram Snacks Food. Temasek Holdings through its arm Jongsong Investments Pte is acquiring a stake in the target company. "The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target (Haldiram Snacks Food Pvt Ltd) by the acquirer (Jongsong Investments Pte)," the Competition Commission of India (CCI) said in a release. Haldiram Snacks Food is the combined business of the two fractions of the Haldiram family - Delhi and Nagpur. The National Company Law Tribunal has already approved the process of merger of the two fractions, while other regulatory approvals are awaited. "Commission approves the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Pvt Ltd (target) by Jongsong Investments Pte Ltd (acquirer)," it added. Established in 1937 as a retail sweets and namkeen shop in Bikaner, Rajasthan by Ganga Bhishen Agarwal, Haldiram products are now sold in over 80 countries. In 2022, it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food. In a separate release, CCI on Tuesday approved the acquisition of majority stake/control over Nazara Technologies Ltd by Axana Estates LLP, Plutus Wealth Management LLP and Junomoneta Finsol Pvt Ltd. Axana is an LLP incorporated in India. Axana currently does not undertake any business activities or hold any investments and its proposed business involves real estate and business of dealing in shares and securities and other financial instruments. "Commission approves acquisition of majority stake/control over Nazara Technologies Ltd by Axana Estates LLP, Plutus Wealth Management LLP and Junomoneta Finsol Pvt Ltd," the competition watchdog said. Plutus is engaged in the business of stock and commodity broking, trading and investments in stock, commodities, and related businesses and Junomoneta Finsol is engaged in the business of proprietary stock broking and trades in equity, commodity and derivative markets. Nazara functions as a diversified platform in gaming and sports media. Additionally, it is active in the skill-based real money gaming segment and is also engaged in esports events and offers a multi-sports content platform catering to sports enthusiasts in India and the United States. Deals beyond a certain threshold require approval from the regulator, which keep a tab on unfair business practices as well as promotes fair competition in the marketplace.
Time of India
20-05-2025
- Business
- Time of India
CCI okays Temasek Holdings minority stake purchase in Haldiram Snacks Food
The Competition Commission of India on Tuesday approved Singapore's Temasek Holdings proposed acquisition of a minority stake in Haldiram Snacks Food . Temasek Holdings through its arm Jongsong Investments Pte is acquiring a stake in the target company. "The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target (Haldiram Snacks Food Pvt Ltd) by the acquirer (Jongsong Investments Pte)," the Competition Commission of India (CCI) said in a release. Haldiram Snacks Food is the combined business of the two fractions of the Haldiram family - Delhi and Nagpur. The National Company Law Tribunal has already approved the process of merger of the two fractions, while other regulatory approvals are awaited. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Click here for more information Undo "Commission approves the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Pvt Ltd (target) by Jongsong Investments Pte Ltd (acquirer)," it added. Established in 1937 as a retail sweets and namkeen shop in Bikaner, Rajasthan by Ganga Bhishen Agarwal, Haldiram products are now sold in over 80 countries. Live Events In 2022, it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food. In a separate release, CCI on Tuesday approved the acquisition of majority stake/control over Nazara Technologies Ltd by Axana Estates LLP , Plutus Wealth Management LLP and Junomoneta Finsol Pvt Ltd. Axana is an LLP incorporated in India. Axana currently does not undertake any business activities or hold any investments and its proposed business involves real estate and business of dealing in shares and securities and other financial instruments. "Commission approves acquisition of majority stake/control over Nazara Technologies Ltd by Axana Estates LLP, Plutus Wealth Management LLP and Junomoneta Finsol Pvt Ltd," the competition watchdog said. Plutus is engaged in the business of stock and commodity broking, trading and investments in stock, commodities, and related businesses and Junomoneta Finsol is engaged in the business of proprietary stock broking and trades in equity, commodity and derivative markets. Nazara functions as a diversified platform in gaming and sports media. Additionally, it is active in the skill-based real money gaming segment and is also engaged in esports events and offers a multi-sports content platform catering to sports enthusiasts in India and the United States. Deals beyond a certain threshold require approval from the regulator, which keep a tab on unfair business practices as well as promotes fair competition in the marketplace.
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Business Standard
25-04-2025
- Business
- Business Standard
Alpha Wave Global, IHC seek CCI nod to acquire minority stakes in Haldiram
Alpha Wave Global, and IHC (International Holding Company) have sought the Competition Commission of India's approval to acquire minority stakes in Haldiram Snacks Food. Alpha Wave is a global investment company and United Arab Emirates-based IHC is one of the world's largest investment companies having a USD 250 billion market valuation and listed on Abu Dhabi Securities Exchange. "The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the target (Haldiram Snacks Food Pvt Ltd)," said a notice filed with the Competition Commission of India (CCI). The proposed combination, classified as an acquisition of shares and voting rights, falls under specific clauses of the Competition Act, it added. Haldiram Snacks Food is the combined business of the Haldiram family -- Delhi and Nagpur. In its submission to the CCI, Alpha Wave Ventures II LP and Alpha Wave IHC CI, LP (acquirers) said that the exact delineation of the relevant market may be left open as the proposed transaction does not give rise to any competition law concerns, irrespective of the manner in which the markets are defined. However, for the assessment of the proposed transaction the relevant markets may be considered either broadly -- as the market for manufacturing and sale of packaged food products in India -- or more narrowly, segmented into specific categories such as snacks, sweets, ready-to-eat meals, and bakery products, the notice said. Last month, Haldiram Snacks Food, the country's leading snack and food brand, announced that it is selling its stake to two new investors -- IHC and Alpha Wave Global. The announcement came a day after Haldiram confirmed the acquisition of a minority stake by Singapore-based global investment firm Temasek. According to industry sources, IHC and Alpha Wave are collectively acquiring a minority stake of about 6 per cent stake in Haldiram Snacks Food at a valuation of USD 10 billion (around Rs 85,000 crore), which is considered to be the largest for the Indian packaged food industry. Earlier, the National Company Law Tribunal had approved the process of the merger of the two sides and other regulatory approvals are awaited. Established in 1937 as a retail sweets and namkeen shop in Bikaner, Rajasthan, by Ganga Bhishen Agarwal, Haldiram products are sold in over 80 countries. In 2022, it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food.
