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New York Life to acquire 49% stake in Max Ventures' step-down subsidiary -Northern Propmart Solutions

Capital Market 

Max Ventures and Industries announced that its wholly owned subsidiary, Max Estates (MEL) has entered into a shareholders' agreement on 12 February 2020 with New York Life Insurance Company (New York Life) for investment in Northern Propmart Solutions (NPSL), a wholly owned subsidiary of MEL.

MEL and New York Life shall be 51:49 shareholders, respectively in NPSL and shall undertake the construction and development of the land parcel situated at Sector 129, Noida, admeasuring 10,527 square meters, acquired by NPSL on 07 February 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 13 2020. 09:10 IST