ITC to sell us subsidiary for $24 million

NEW DELHI: ITC will sell its entire stake in US-based wholly owned subsidiary ‘King Maker Marketing’ for $24 million (around ₹160 crore). King Maker Marketing, registered

NEW DELHI: ITC will sell its entire stake in US-based wholly owned subsidiary ‘King Maker Marketing’ for $24 million (around ₹160 crore). King Maker Marketing, registered in the state of New Jersey, USA, is engaged in the distribution of ITC manufactured cigarette products in the US. “The Corporate Management Committee has approved divestment of company’s entire shareholding in King Maker Marketing along with assignment of certain trademarks owned by the company,” ITC said in a filing to the Bombay Stock Exchange (BSE).

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