06:37 AM EDT, 05/15/2024 (MT Newswires) -- (Adds Blackstone decline to comment in fourth paragraph)

A consortium led by Blackstone (BX) is in talks with Indian food chain Haldiram's for a 75% stake in its snacks business worth up to $8.5 billion, Reuters reported Tuesday, citing people with direct knowledge of the matter.

The talks are in early stages and there is still no final percentage and valuation, the report said.

The consortium includes Singapore state fund GIC and Abu Dhabi Investment Authority, the report added.

Blackstone declined to comment. ADIA, GIC and Haldiram's did not respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 125.67, Change: -0.30, Percent Change: -0.24