PVR to buy majority stake in Cinemax for Rs 3.95b
Nov 29 2012 , Mumbai
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.