MaxVIL to sell stake in packaging films biz to JV partner; to focus on realty

Noida-based, publicly listed Max Ventures & Industries Ltd (MaxVIL) is to sell its 51% shareholding in Max Speciality Films Ltd (MSFL) to JV partner, Japan's Toppan Inc. which currently holds 49%, in two separate tranches at an enterprise value of INR 1,350 crore. GCA acted as exclusive financial advisor to Toppan on this transaction. MaxVIL will now focus completely on real estate and change its name to Max Estates Ltd.