PVR INOX has approved the sale of its 93.27% stake in Zea Maize Private Limited, parent company of 4700BC snack brand, to Marico for ₹226.8 crore. Upon completion of the deal, ZMPL will no longer be a subsidiary of PVR INOX.
Marico New Deal: PVR INOX on Monday, January 26, announced that it is selling its entire stake in Zea Maize Private Limited (ZMPL), the company that manages the well-known snack brand “4700BC”, to consumer goods company Marico. The board committee approved the deal at a total consideration of ₹226.8 crore. It is going to sell its 93.27% stake in cinema chain operator ZMPL to Marico Limited. Once the sale is finalized, ZMPL will no longer be a subsidiary of PVR INOX Ltd. The company has said that ZMPL is neither a major subsidiary nor publicly listed on any stock exchange.