Kraft Heinz shortlists bidders for sale of some Indian assets: Report
Tata Group and Dabur India are among the companies chosen for the second round of bidding for the food company's Indian assets, which includes Complan and Glucon-D
August 06, 2018 / 01:06 PM IST
Kraft Heinz Co has narrowed the list of bidders for a bunch of Indian businesses it is looking to sell, which includes popular milk drink brand Complan, according to a report by Bloomberg.
The Chicago-based consumer goods company has valued the assets it is looking to sell at around $1 billion, Bloomberg quoted sources as saying.
Salt-to-steel conglomerate Tata Group and fast moving consumer goods major Dabur India are among the companies chosen for the second round of bidding, the news agency reported. Cadila Healthcare and other buyers have also expressed interest.
Apart from Complan, other products up for sale include instant energy drink brand Glucon-D, talcom powder brand Nycil, and clarified butter brand Sampriti.
Moneycontrol could not independently verify the news.
Tata Group is likely to consider a potential deal through its listed group company Tata Global Beverages, a source told the news agency. Spokesmen for Tata Group, Dabur India and Tata Global Beverages reportedly declined to comment on the matter.
Some of the suitors have reportedly questioned the valuation of the businesses Kraft Heinz is selling, as they see lower growth prospects for the products given changing consumer tastes in India.
There is no certainty that the bidders will make binding offers, and Kraft Heinz could also decide to keep the businesses, Bloomberg reported.