Kraft Heinz is narrowing list of bidders in $1 bn India biz sale

MUMBAI/HONG KONG: Kraft Heinz Co. has narrowed the list of bidders for a portfolio of Indian businesses it’s selling that includes the children’s milk drink Complan, people with knowledge of the matter said.

Tata group, India’s biggest conglomerate, and Dabur India Ltd, the $11.3 billion consumer goods firm, are among suitors selected for the second round of bidding, according to the people. The sale has also drawn interest from an arm of Cadila Healthcare Ltd and other potential buyers, the people said, asking not to be identified because the information is private.

Kraft Heinz has been seeking about $1 billion for the assets, the people said. In addition to the Complan product, the Indian businesses being sold include the Glucon D instant energy drink, Nycil talcum powder and Sampriti clarified butter, they said.

Kraft Heinz extended gains in New York trading on Friday, rising 5.9% to $62.90 at 9.54am after earlier touching $63.04. That’s the biggest intraday jump since May.

Tata group is considering doing any potential deal through its listed unit Tata Global Beverages Ltd, according to one of the people. Spokesmen for Tata group, Dabur India and Tata Global Beverages declined to comment.

Mint

had on August 3 reported that Jet Airways had yet again approached investment bankers to help sell a stake in the carrier.

“Jet Airways is looking to raise immediate cash and the transaction may include Jet Airways founder Naresh Goyal offloading a part of the promoter’s stake in the company,”

had reported quoting people familiar with the matter.

The aviation industry is currently passing through a tough phase, given a depreciating rupee and the mismatch between high fuel prices and

Mint