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PVR buys DLF's DT Cinemas for Rs 60 cr

India’s leading retail entertainment companies, PVR has decided to buy out cinemas owned by India’s largest developer DLF, in a mix of part cash and part stock deal estimated to be around


November 14, 2009  |  comments ( 0 )  | 

India’s leading retail entertainment companies, PVR has decided to buy out cinemas owned by India’s largest developer DLF, in a mix of part cash and part stock deal estimated to be around Rs 60 crore. DT cinemas has 29 screens in Delhi and NCR, of which 26 are operational, while another three screens are expected to commence operations in the next six months. Currently, DT Cinemas are spread across Delhi, Gurgaon and Chandigarh exclusively in DLF malls and this deal would help PVR gain entry into lucrative estates at reasonable leases. Both the companies are expecting to save on synergies as PVR would gain on the existing infrastructure at key locations for a faster ramp-up, while DLF would save on costs such as operational expenses such as staff cost and annual maintenance, etc. 


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