Blackstone Readies Rs 40,000 Crore Bid to Acquire 51% Stake in Haldiram’s

• Blackstone Inc has increased its offer for Haldiram’s, aiming to enter India's snacks market with a Rs 40,000 crore bid for a 51% stake.
• The deal values Haldiram's between Rs 70,000 and 78,000 crore, contingent on due diligence outcomes.
• Ownership of restaurants and brand licence issues have been resolved, with brand rights remaining with the Haldiram family.
• Blackstone will get a perpetual licence for Haldiram’s product business, while the family will receive annual royalties.
• EY is conducting due diligence, and a binding term sheet could be finalized within 6-8 weeks.

Source: Moneycontrol