Private equity firm KKR & Co. LP and French food products company Danone are among the bidders looking to acquire GlaxoSmithKline PLC's 72.5% stake in its Indian consumer products division, GlaxoSmithKline Consumer Healthcare Ltd., The Economic Times reported.
Other companies looking to acquire the stake include Nestlé SA, PepsiCo Inc., Abbott Laboratories, ITC Ltd., The Unilever Group's Hindustan Unilever Ltd. and Mondelez International Inc.
A deal for the pharmaceutical giant's stake in GlaxoSmithKline Consumer Healthcare would reportedly be valued at about $4 billion.
GSK's nutrition brands, including Horlicks and Boost, are licensed and distributed through GlaxoSmithKline Consumer Healthcare.
Citing sources with direct knowledge of the matter, The Economic Times reported that initial bids have been submitted and deal negotiations are at an early stage.
The U.K.-based pharmaceutical company had stated in March that it would review its 72.5% shareholding in the Indian company and that it expects the strategic review to conclude by the end of 2018.
GSK has hired two U.S. banks to manage the sale process, while Lazard is acting as the financial adviser for Danone, the news outlet reported.
