India, March 31 -- Singaporean state-owned multinational investment firm, Temasek, will "acquire an equity stake from the existing shareholders" of Haldiram, which is India's largest packaged snack and sweets company and restaurant operator.

However, the details of the deal such as the valuation have not yet been disclosed yet, according to a report by news agency PTI.

Temasek may, however, acquire a minority 10% stake in Haldiram at a valuation of $10 billion (about Rs.85,000 crore), according to the report which cited industry sources.

This deal "is subject to customary regulatory approvals, (and) is expected to close soon", the company said.

The proceeds of the deal are to be used by Haldiram's to expand in both domestic and intern...