PVR has agreed to acquire a minority stake in iPic-Gold Class Entertainment, LLC (iPic), America’s premier luxury restaurant-and-theater company, which owns and operates 16 luxury theaters with 121 screens across 10 states in the United States.
The board of directors of PVR in its meeting held on November 16, 2017 approved the proposed investment and the strategic partnership between PVR and iPic, which will give PVR valuable exposure in the cinema exhibition market of USA. The completion of the proposed investment is subject to receipt of relevant corporate and regulatory approvals.
PVR is the largest and the most premium film and retail entertainment company in India. The company is engaged in the business of film exhibition. The company operates other business such as providing content, film distribution and Entertainment Park through its subsidiaries.
