PE-backed Max India sells polypropylene film unit for $97m
Max India, which is backed by Goldman Sachs, International Financial Corporation (IFC) and Temasek Holdings, has sold its biaxially oriented polypropylene (BOPP) film division to Germany's Treofan for INR5.4 billion ($97 million). The divestment allows the Indian company to focus on its core healthcare and insurance businesses.
Max India has sold various units over the years, but the polypropylene film division is one of its oldest businesses. "It was always a tough decision for us to divest the oldest business in our portfolio,"...
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