With reference to the earlier letter dated June 09, 2015 regarding DLF Utilities, a subsidiary, has entered into definitive agreements to sell its cinema exhibition business operated under the brand name of ‘DT Cinemas’, to PVR Limited, subject to approval of applicable statutory and regulatory approvals and satisfaction of customary conditions precedent. In continuation of the above, DLF has now informed that the Hon’ble Competition Commission of India vide its letter dated May 04, 2016 has approved the proposed combination in terms of sub-section (7) of the Section 31 of the Competition Act, 2002. A copy of the order is available on the CCI website, whereby the CCI has approved the proposed combination in relation to acquisition of DT Cinemas, with certain modifications, which inter alia include exclusion of DT Savitri (1 screen) and DT Saket (6 screens) from the proposed combination. Both parties are initiating the necessary steps to successful closing of this transaction.
The above information is a part of company’s filings submitted to BSE.
