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Cigarette-maker Godfrey Phillips, other KK Modi businesses up for sale, says Lalit Modi

Other companies where the promoter stakes are up for sale are Modicare, Modicare Healthcare Placement and 24Seven convenience stores.

January 28, 2020 / 05:27 PM IST

All assets owned by late industrialist KK Modi, including cigarette-maker Godfrey Phillips, are up for sale, his son Lalit Modi confirmed on January 27.

Godfrey Phillips India, which manufactures Marlboro cigarettes in India, currently has two major stakeholders – Phillip Morris (which owns 25.1 percent) and the KK Modi Group (47.09 percent).

Krishan Kumar Modi, who was chairman of Modi Enterprises, passed away in November last year. His wife Bina was appointed as Chairperson following his death.