The Competition Commission of India (“CCI”), vide Press Release No. 21/2025-26,[1] dated May 20, 2025, has approved the acquisition of a less than 10% (Ten Percent) stake in Haldiram Snacks Food Private Limited (“Target Company”) by Jongsong Investments Pte. Ltd. (“Acquirer”). The transaction involves the Acquirer acquiring less than 10% (Ten Percent) of the issued and paid-up equity share capital of the Target.
Key Details of the Transaction
- The Acquirer is an investment holding company that does not directly engage in business operations other than holding investments. It is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited, a prominent investment company based in Singapore. Temasek has a diverse global portfolio that spans across multiple industries including: Transportation & Industrials, Financial Services, Telecommunications, Media & Technology etc.
- The Target was incorporated on 12th December 2022 and, as of now, does not have any business operations. The company, along with its affiliates, is expected to engage in the manufacture and sale of a variety of packaged food products in India. These products include: Snacks, Sweets, Ready-to-eat products, Bakery products etc.
[1] https://www.cci.gov.in/media-gallery/press-release/details/530/0