October 23, 2018 / 3:55 PM / a month ago

Kraft Heinz to sell part of Indian businesses to drugmaker Zydus: Bloomberg

(Reuters) - Kraft Heinz Co (KHC.O) has agreed to sell a portfolio of its Indian businesses, including children’s drink brand Complan, to Indian drugmaker Zydus Wellness Ltd, Bloomberg reported on Tuesday, citing sources.

The deal with Ahmedabad-based Zydus, which is a unit of Cadila Healthcare Ltd (CADI.NS), 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.

Kraft Heinz declined to comment on the report. Cadila Healthcare and Zydus Wellness did not immediately respond to Reuters request for comment.

Reporting by Soundarya J in Bengaluru; Editing by Shailesh Kuber

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