Haldirams announces agreement with Singapore investment major Temasek – CNBC TV18

Indian snacks and sweets model Haldirams has chosen Singapore-based world investment agency Temasek as its strategic companion. Beneath the agreement, Temasek will purchase an fairness stake from present shareholders, supporting Haldirams’ growth in India and abroad, the agency introduced on March 30.

“This transaction positions Haldirams to proceed its formidable growth plans each in India and internationally, solidifying its presence in an more and more aggressive market,” the announcement added.

PwC Investment Banking acted because the unique monetary advisor for the deal, whereas authorized advisory was offered by Khaitan & Co. The transaction is topic to regulatory approvals and is predicted to shut quickly.

A spokesperson for Haldirams mentioned, “We’re thrilled to welcome Temasek as an investor and companion in Haldirams. We look ahead to working with them to harness the worth they create from their expertise within the client house to speed up our development and strengthen our potential to fulfill evolving client calls for. We additionally prolong our gratitude to PwC and Khaitan & Co for his or her devoted assist throughout this transaction.”

Sanjeev Krishan, Chairperson of PwC in India, highlighted the importance of the deal, stating, “At PwC, we take satisfaction in being catalysts of entrepreneurial success—serving to companies remodel into world giants. Our decade-lengthy collaboration with Haldirams exemplifies this dedication. Over time, now we have suggested them on varied strategic planning and determination-making issues. This transaction isn’t solely the most important personal fairness client deal in India but additionally a mirrored image of home companies that proceed to raise India’s positioning on the worldwide stage. We thank the Haldirams household for trusting us with this chance.”