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PVR Ltd's Cine Hospitality Private Limited Acquires Cinemax India Limited

Thursday, 29 Nov 2012 04:10am EST 

PVR Ltd announced that the Board of Directors of the Company at its meeting held on November 29, 2012, approved, subject to receipt of relevant consents under applicable law, the purchase of entire 69.27% stake in Cinemax India Limited from the Kanakia family, promoters of Cinemax India Limited at a per share price of INR203.65 and a total consideration of INR3,949,754,278 through Cine Hospitality Private Limited, a wholly owned subsidiary of the Company. The Board also approved purchase of upto 26% stake of Cinemax India Limited from the public shareholders pursuant to an open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. 

Company Quote

4.15 +0.59%
23 Oct 2014