Thakur
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Consolidation continues to sweep the cinema exhibition sector. After failing in its earlier attempt, PVR Cinemas has restarted talks and is in the final stage of negotiation to acquire DT Cinemas, the wholly-owned subsidiary of real estate developer DLF Ltd.
According to an industry source, the deal is expected to be struck at a valuation of Rs 500 crore (Rs 5 billion). The acquisition will strengthen PVR’s presence in the northern region.
DT Cinemas runs 29 screens in National Capital Region of Delhi and Chandigarh.
Out of this, 18 are in Delhi, eight in Gurgaon and three in Chandigarh. With a heavy debt overhang, DLF is exiting from its non-core businesses.
Read more at:
http://www.televisionpost.com/news/pvr-in-final-lap-of-negotiation-to-acquire-dt-cinemas/
According to an industry source, the deal is expected to be struck at a valuation of Rs 500 crore (Rs 5 billion). The acquisition will strengthen PVR’s presence in the northern region.
DT Cinemas runs 29 screens in National Capital Region of Delhi and Chandigarh.
Out of this, 18 are in Delhi, eight in Gurgaon and three in Chandigarh. With a heavy debt overhang, DLF is exiting from its non-core businesses.
Read more at:
http://www.televisionpost.com/news/pvr-in-final-lap-of-negotiation-to-acquire-dt-cinemas/
