CCI Approves Temasek's Minority Stake Acquisition In Haldiram Snacks Food
Haldiram Snacks Food represents the combined business of the Delhi and Nagpur factions of the Haldiram family.
The Competition Commission of India has approved Temasek Holdings' proposed acquisition of a minority stake in Haldiram Snacks Food.
The transaction, carried out through Jongsong Investments Pte, involves acquiring less than 10% of the issued and paid-up equity share capital of Haldiram Snacks Food Pvt.
Haldiram Snacks Food represents the combined business of the Delhi and Nagpur factions of the Haldiram family. The National Company Law Tribunal has already cleared the merger of these two fractions, with other regulatory approvals still pending.
Established in 1937 in Bikaner, Rajasthan, Haldiram started as a retail sweet and namkeen shop and has expanded globally, with products available in over 80 countries.
Additionally, in 2022, it was announced that Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would first undergo demerger before merging into a single entity named Haldiram Snacks Food.
In a separate announcement, the CCI also approved the acquisition of a majority stake/control in Nazara Technologies Ltd. by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Pvt.
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 keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
(With PTI Inputs)
