06:43 AM EST, 12/16/2024 (MT Newswires) -- Blackstone (BX) has become the preferred bidder for a 20% stake in Haldiram Snacks, Bloomberg News reported Monday, citing people familiar with the matter.

The report said Blackstone may team up with Singapore state investor GIC and Abu Dhabi Investment Authority to pay around $1.6 billion for the stake.

The parties are looking to reach a deal in the coming weeks as talks are in the advanced stage, although no final decisions have been made and other bidders remain interested in buying a stake, the report said.

Blackstone did not immediately respond to MT Newswires' request for comment, and attempts to reach Haldiram were not immediately successful.

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