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August 3, 2018

Kraft Heinz’s India asset sale ‘moves to second round’

Kraft Heinz has reportedly taken the auction of a clutch of its assets in India to the second round, with Tata Group and FMCG business Dabur India said to be in the running.

Kraft Heinz has reportedly taken the auction of a clutch of its assets in India to the second round, with Tata Group and FMCG business Dabur India said to be in the running.

It has been reported in recent weeks Kraft Heinz is looking to sell a portfolio of businesses in India including the children’s milk drink Complan.

Bloomberg said today (3 August) the auction had also attracted interest from Indian pharmaceutical group Cadila Healthcare.

Kraft Heinz’s Complan assets in India is unrelated to the Complan business in the UK. In the UK, Complan is a company marketing drinks and soups predominantly for adult consumers and is owned by Danone.

According to unnamed sources cited by Bloomberg , Kraft Heinz has been seeking around US$1bn for the assets. As well as the local ownership of Complan, the assets on the block include  Sampriti clarified butter, Glucon D energy drinks and Nycil talcum powder.

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