The company's board of directors approved the divestment of the remaining 51 percent shareholding in Max Speciality Films Limited (MSFL), a subsidiary of Max Ventures & Industries Limited (MaxVIL), in two separate tranches to Japan's Toppan Inc., a 49 percent strategic partner in MSFL, at an enterprise value of Rs 1,350 crore on Sunday, according to a BSE filing. This translates into an equity value of about Rs 600-650 crore (subject to customary adjustments).
