CCI approves acquisition of certain issued, paid-up equity share capital of Haldiram Snacks Food by Jongsong Investments

The Competition Commission of India has approved the acquisition of a certain issued and paid-up equity share capital of Haldiram Snacks Food (Target) by Jongsong Investments (Acquirer)

The proposed transaction entails the acquisition of less than 10 per cent of the issued and paid-up equity share capital of the Target by the Acquirer.

The Acquirer is an investment holding company and does not engage in any business operations other than holding investments. It is an indirect wholly owned subsidiary of Temasek Holdings (Temasek). Temasek is an investment company headquartered in Singapore. Temasek’s global portfolio covers a broad spectrum of industries including Transportation & Industrials; Financial Services; Telecommunications, Media & Technology; Consumer & Real Estate; Life Sciences & Agri-Food; Multi-sector Funds; and others (including Credit).

The Target was incorporated on December 12, 2022, and presently, it does not have any business operations. The Target (including its affiliates) will be engaged in the manufacture and sale of packaged food products in India, such as snacks, sweets, ready-to-eat products, dairy products, bakery products, chocolates, and non-carbonated ready-to-drink beverages.