NEW DELHI: The biggest multiplex chain of India, PVR Limited announced the acquirement of DT Cinemas on Tuesday for Rs. 500 crore.
DLF’s multiplex subsidiary, DT Cinemas is currently operational with 29 screens across National Capital Region and Chandigarh with around 6, 000 seats at eight properties, however, DT Cinemas has proposed to add 10 new screens at two properties in the NCR.
On the other hand, PVR has 467 screens across 105 locations in 43 cities.
In a statement released to the BSE, PVR said, “As a result of the proposed acquisition, PVR will have a presence in 44 cities with 115 multiplexes and 506 screens.”
While the multiplex giant had earlier bid for DT Cinemas in 2009, the deal could not end with any positive result.
Apart from this, the DLF has also closed the doors of its wind energy business.For all the latest Entertainment News, download NewsX App