Max Ventures & Industries (MaxVIL) has entered into a definitive agreement with its existing Japanese strategic partner in Max Speciality Films - Toppan Printing - to divest its remaining 51% stake in the specialty packaging films business for an enterprise value of Rs 1,350 crore, translating into an equity value of about Rs 600-650 crore (subject to customary adjustments).
Toppan would also be taking over the debt of MSFL as part of the deal. After acquisition of 49% stake in 2017 for about Rs 200 crore Toppan became a strategic partner of MaxVIL.
Engaged in businesses of real estate and specialty packaging films MaxVIL has decided to exit from the non-core businesses. Post this exit, the Company will completely focus on the real estate business in the premium residential and commercial space in Delhi-NCR.
Max Ventures and Industries, a part of the $3.2 billion Max Group, operates primarily in the areas of manufacturing and real estate.
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