PVR to buy majority stake in Cinemax for Rs 3.95b

Cinemax India Ltd, a theatre chain operator, said its controlling shareholders will sell a 69.27 per cent stake in the company to local rival PVR Ltd for Rs 3.95 billion.

PVR will buy the stake for Rs 203.65 a share, a premium of 16 percent to Cinemax stock's close on Wednesday.

Separately, PVR said it would buy up to 26 percent more of Cinemax shares from public shareholders through a mandatory open offer. The price of the offer was not immediately known.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Not the best gift for Modi, but bypoll result may not affect BJP in long run

    In India’s hardball political landscape, there is little place for anyone to rest on their laurels, not the least if you are a successful prime mini

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Scientific and field level know-how

Recently addressing the scientists of the Indian Council of Agricultural ...

Rajgopal Nidamboor

How synchronous empathy helps us

All of us are in an undulating ‘hypnotic’ state. A ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture