INOX Leisure, India’s premium multiplex brand, has executed transaction documents to acquire New Delhi headquartered Satyam Cineplexes (Satyam) by way of acquisition of 100% of the equity share capital of Satyam from its existing shareholders for a consideration of Rs 182 crore, subject to closing.
Post the proposed acquisition, INOX shall be present in 50 cities with 91 multiplexes and 358 screens. The proposed acquisition of one of the industry’s prime assets is a part of INOX’s strategy to expand its footprint across the country and gives INOX a significant foothold in the North Indian region.
The acquisition of Satyam shall be the third by INOX in less than a decade. INOX has earlier acquired Calcutta Cine in 2007, which triggered the consolidation phase in the multiplex industry, followed by Fame India in 2010.
INOX Leisure is one of the fastest growing multiplex chains in the country, building and managing multiplex cinemas throughout India.
