While the financial terms of the agreement with Haldiram’s have not been publicly disclosed, sources told Reuters that Temasek had bought a 10 per cent stake in the company for US$1 billion. This translates into a valuation of Haldiram’s at US$10 billion.
The transaction between Haldiram’s and Temasek was the largest-ever private equity consumer deal in India, Sanjeev Krishan, chair of accounting giant PwC in the South Asian country, said in a statement on Sunday without disclosing any figures.
Krishan said PwC’s investment banking team served as the “exclusive financial adviser” for the transaction, which was expected to close soon.
“This transaction positions Haldiram’s to continue its ambitious expansion plans both in India and internationally, solidifying its presence in an increasingly competitive market.”
