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regular-article-logo Tuesday, 05 November 2024

25% in Jindal Poly

The proposed investment, which values the hived off entity at Rs 8,000 crore, will be carried out through Brookfield’s Special Investments programme

PTI Mumbai Published 18.03.22, 04:44 AM
Representational image.

Representational image. File photo

Jindal Poly Films has signed a pact with Brookfield Asset Management to sell a 25 per cent stake in its packaging films business that will be hived off as a separate unit as part of the Rs 2,000-crore deal.

The proposed investment, which values the hived off entity at Rs 8,000 crore, will be carried out through Brookfield’s Special Investments programme, Brookfield and Jindal Poly Films said in separate statements on Thursday.

The transaction will result in Jindal Poly Films carving out the packaging films business, which generates as much as 85 per cent of its total revenue into a wholly-owned subsidiary in which Brookfield will hold a 25 per cent stake. Jindal Poly will continue to own its non-woven business unit.

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