Max India sells unit to Germany's Treofan for Rs 540 cr

Max India Ltd, a diversified group with interests in hospitals and life insurance businesses, said on Monday it had sold its unit that makes polypropylene film to Germany's Treofan for Rs 540 crore.

Max Speciality Films has an output capacity of about 50,000 tons per annum of film which is used by food packaging, consumer products and textile companies, the company said.

Max India, which has a market value of over $836 million, said it would focus on its main businesses of healthcare services, clinical research and life and health insurance.

Shares in Max India ended up 3.7 percent at Rs 190.30 ahead of the announcement.