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Max Ventures to divest remaining 51% stake in specialty packaging films business

15 Nov 2021 Evaluate

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.

Peers
Company Name CMP
Bajaj Finserv 1729.90
TVS Holdings 11885.75
Cholamandalam Fin. 1371.35
Altius Telecom Infra 179.00
Kama Holdings 2259.85
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