Akshata Sharma
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US-based investment management company Blackstone is reportedly planning to submit a bid worth Rs 40,000 crore to acquire a 51% stake in the iconic Indian fast-food chain Haldiram's.
According to a Moneycontrol report, the deal will value Haldiram's at between Rs 70,000 crore and Rs 78,000 crore.
The final offer to the promoters of the snack maker will depend on the outcome of the due diligence process.
Notably, the deal would potentially give the private equity firm control of Haldiram's product business, for which Blackstone will receive a perpetual license.
The report also mentioned that some contentious issues, such as the ownership of restaurants and the brand license, have been resolved.
The brand rights and control over the restaurant operations will remain with the family.
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