Max India to sell BOPP film division for Rs 800 crore

23-Apr-12
Max India has decided to divest its polypropylene business in a two-stage transaction for an enterprise value of about Rs 700-800 crore, a move that will help it exit its non-core business, as per Economic Times. Analjit Singh-promoted company is in advanced negotiations with at least two overseas firms in Europe and USA for its bi-axially oriented polypropylene (BOPP) film division. The two-stage deal under consideration involves divestment of majority stake in the first phase, followed by sale of the residual stake later at a pre-determined price.
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