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Cinemax India’s promoters sell 69.72% of their stake to PVR for Rs 395 crore

29 Nov 2012 Evaluate

Cinemax India’s promoters’ through wholly owned subsidiary, Cine Hospitality, have entered into a definitive sale agreement with PVR, for the sale of their entire stake of 69.27%in Cinemax India. The sale has been completed for a total sale consideration of approximately Rs 395 crore at a price of Rs 203.65 per equity share.

Cinemax India operates one of the largest exhibition theatre chains in India with 36 properties with 123 screens. It is the largest multiplex chain in the Mumbai region. Cinemax runs ‘Red Lounge’ at Bandra, Versova and Thane.

Peers
Company Name CMP
PVR 950.80
Saregama India 343.60
Shemaroo Entertain. 106.11
Balaji Telefilms 95.26
UFO Moviez 71.53
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