Involves acquisition of additional 2.727%
The Competition Commission of India (CCI) has approved acquisition by Lighthouse India Fund III, Limited and Lighthouse India III Employee Trust of Bikaner-based Bikaji Foods International under Section 31(1) of the Competition Act, 2002.
The Proposed Combination involves acquisition of additional 2.727% of equity shareholding in Bikaji by Fund III and Lighthouse Employee Trust. Lighthouse Funds currently has 7.472% equity shareholding in Bikaji through one of its funds.
Lighthouse Funds is a US based company and act as the sponsor and controls private equity funds that make investments in consumer companies in India. Till date, it has raised three private equity funds that are domiciled in Mauritius. Fund III is one of these three funds and Lighthouse Employee Trust is a trust settled in India.
Bikaji is engaged in the manufacture and sale of snacks such as bhujia, namkeen, papad, chips, sweets and cookies.