 "Kraft Heinz unlikely to get $1 billion from sale of drink brand Complan")
US-based food and beverage major Kraft Heinz is unlikely to get $1 billion (around Rs 70 billion) from the sale of its nutrition drink brand Complan, sources claim.
Binding bids in the range of Rs 30-35 billion (around $500 million) are expected to come in, claim people in the know. An investment banker noted, "They will be lucky if they get 5-6 times of Ebitda, versus an expectation of 20X. In that valuation, a new, much better brand can be created."
A potential bidder seeking anonymity tells Business Standard they are keen to pursue the deal and submit bids. "We are there
