Food giants Nestlé SA, Kraft Heinz Co. and Unilever NV are interested in acquiring GlaxoSmithKline PLC's health nutrition unit, Reuters reported March 27, citing people familiar with the matter.
The unnamed sources told the news outlet that a sale of the Horlicks business might garner more than $4 billion.
The main asset in the deal is GSK's 72.5% stake in its Indian division GlaxoSmithKline Consumer Healthcare.
GSK reportedly started a strategic review of Horlicks, and some of its smaller products, after agreeing to pay $13 billion for Novartis AG's stake in the companies' consumer healthcare joint venture.
Nestle has expressed interest in the GSK business on several occasions, the news outlet reported. Nestle or Unilever could purchase the business through their respective local Indian subsidiaries, Nestle India and Hindustan Unilever.
According to Reuters, Coca-Cola Co., PepsiCo Inc., Suntory, Mondelez International Inc. and JAB are also among potential suitors of the unit.