PVR acquires SPI cinemas in 850-crore ($11.1m USD) deal

PVR acquires SPI cinemas in 850-crore ($11.1m USD) deal

In a cash and stock deal PVR will acquire SPI Cinemas, which operates brands like Sathyam Cinemas, Escape, Palazzo, The Cinema and S2, in key markets of Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Kerala, and Mumbai.

MUMBAI: After years of on-again-off-again negotiations, Ajay Bijli-led India’s leading multiplex chain PVR Ltd has finally reached an agreement with South India’s largest premium cinema exhibitor SPI Cinemas to acquire the company at an enterprises valuation of over Rs 850 crore.

In a cash and stock deal PVR will acquire SPI Cinemas, which operates brands like Sathyam Cinemas, Escape, Palazzo, The Cinema and S2, in key markets of Tamil Nadu, Telangana, Andhra Pradesh, Karnataka… (click link below to read full story)

Source: Economic Times

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