Kraft Heinz Likely to Sell Portion of Indian Business to Zydus

Kraft Heinz Co has agreed to sell a portfolio of its Indian businesses, including children drink brand Complan, to Indian drugmaker Zydus Wellness Ltd, leading media house Bloomberg reported, citing sources.

The deal with Ahmedabad-based Zydus, which is a unit of Cadila Healthcare Ltd, could be announced as early as this week, the report said, adding that Zydus has been discussing a value of about 46 billion rupees ($625 million) for the businesses.

Earlier this month, the Indian media had reported that Zydus was close to a deal with Kraft Heinz for brands including Glucon-D and Nycil.