Lighthouse Funds take 2.727% stake in snack company
The Competition Commission of India (CCI) approves acquisition by the US-linked Lighthouse India Fund III, Limited and Lighthouse India III Employee Trust to collectively acquire shareholdings in Bikaji Foods International Limited under Section 31(1) of the Competition Act, 2002 on 10 Aug 2021.
The Proposed Combination involves acquisition of additional 2.727% of equity Bikaji shareholding by Fund III and Lighthouse Employee Trust. Lighthouse Funds currently has 7.472% equity shareholding in Bikaji through one of its funds.
Lighthouse Funds is a US based company and act as the sponsor and controls private equity funds that make investments in consumer companies in India. Till date, it has raised three private equity funds that are domiciled in Mauritius. Fund III is one of these three funds and Lighthouse Employee Trust is a trust settled in India.
Bikaji manufactures and sells snacks such as bhujia, namkeen, papad, chips, sweets and cookies. #investment #banking #food #manufacturing /fiinews.com
