SAM & AZB & Partners advised MaxVIL on partnering with Toppan

Max Ventures & Industries Limited (VIL), one of the three holding companies of the Max Group

Law Firm - Shardul Amarchand Mangaldas & Co.
By :  Legal Era
Update: 2022-05-31 13:00 GMT


SAM & AZB & Partners advised MaxVIL on partnering with Toppan

Max Ventures & Industries Limited (VIL), one of the three holding companies of the Max Group, has announced the closure of divestment of the balance 51 percent equity stake in Max Speciality Films Limited to Toppan Printing.

Max VIL initiated the transaction in November last. The deal was worth Rs.628 crores

Shardul Amarchand Mangaldas & Co advised Toppan Inc. to acquire remaining 51% shareholding of Max Speciality Films Limited from Max Ventures & Industries Limited ('MVIL') in two tranches for a total deal value of INR 628 Crore (approx.). The date of signing was 14 November, 2021 and the date of first closing was February 1, 2022.

On its exit from the packaging business, MaxVIL has now emerged as a pure real estate business entity. With the proceeds from the sale, the firm intends to focus on premium residential and commercial real estate business.


The SAM team was led by Rudra Kumar Pandey, Partner; Kanishk, Partner; Vishal Nijhawan, Principal Associate; Anshul Chhirang, Associate; and Gayathri Subramanian, Associate.


GCA Advisors and KPMG advised Toppan Inc. on financial and tax aspects, respectively.

AZB & Partners and Ambit advised MVIL on legal and financial aspects, respectively. The M&A team of AZB & Partners comprised Partners Anil Kasturi, Ashish Pareek, and Bharat Apte led the transaction.

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By - Legal Era

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