CCI Approves Acquisition of Equity in Haldiram Snacks Food
The Competition Commission of India (CCI) has approved the acquisition of certain issued and paid-up equity share capital of Haldiram Snacks Food Private Limited (Target) by Jongsong Investments Pte. Ltd. (Acquirer).
The transaction involves the acquisition of less than ten per cent of the issued and paid-up equity share capital of the Target by the Acquirer.
Jongsong Investments is an investment holding company and an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited, headquartered in Singapore. Temasek’s global portfolio spans sectors including transportation, financial services, telecommunications, consumer goods, life sciences, and multi-sector funds.
Haldiram Snacks Food, incorporated in December 2022, currently has no business operations. The Target and its affiliates will engage in manufacturing and selling packaged food products in India, such as snacks, sweets, ready-to-eat items, dairy, bakery products, chocolates, and non-carbonated ready-to-drink beverages.
A detailed order from the Commission will follow.
Source:Press Information Bureau, Competition Commission of India
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