U.S. food and beverage firm Kraft Heinz has narrowed the list of bidders for a portfolio of Indian businesses it’s selling that includes the children’s milk drink Complan.
Indian infrastructure holding firm Tata Group, and the consumer goods firm Dabur are among suitors selected for the second round of bidding.
The sale has also drawn interest from an arm of Indian pharmaceutical firm Cadila and other buyers. Kraft Heinz has been seeking about $1 billion for the assets.
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.