The Competition Commission of India (CCI) has approved global investment firm KKR’s proposal to acquire a stake in Rebel Foods through its subsidiary, Royce Asia Holdings.

The acquisition will involve the purchase of shares and compulsorily convertible preference shares through a secondary transaction.

The CCI said that the transaction does not pose risks to competition in India.

Reports indicate that KKR plans to acquire shares valued between US$50 million and US$75 million from existing investors, including Peak XV Partners and Coatue.

Rebel Foods is estimated to be valued between US$800 million and US$860 million.