India’s PVR Multiplex Chain Raises $55 Million To Finance DT Acquisition

Multiplex cinema

Indian cinema chain PVR is to raise $55 million through a share sale. Earlier last week the company agreed to pay $78.2 million to buy DLF’s DT circuit.

The acquisition consolidates PVR as the largest cinema operator in India with over a quarter of all multiplex screens.

The shares are being bought by three private equity funds. They represent 10.7% of the company’s enlarged capital. PVR unsuccessfully bid for DLF in 2009.

India’s multiplex space continues to consolidate. In December Carnival acquired Reliance’s Big Cinemas. Last year Carnival also bought Housing Development and Infrastructure’s multiplex business Broadway Cinemas. Mexico’s Cinepolis acquired Fun Cinemas and Inox acquired Delhi-based Satyam Cineplexes.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading