PVR to buy 69% stake in Cinemax

PVR would acquire 69.3% stake in Cinemax India for an amount of Rs 395 crore in order to expand its business in India. Cinemax is owned by Kanakia Group.

  • The acquisition would make PVR the largest multiplex chain in India.

PVR:

  • Priya Village Roadshow (PVR) Cinemas
  • Began as a joint venture agreement b/w Priya Exhibitors Private Limited and Village Roadshow Limited in 1995 with 60:40 ratio
  • Commenced its commercial operations in June 1997 with the launch of PVR Anupam in Saket
  • PVR Anupam in Saket, South Delhi, was India’s first multiplex
  • Introduced the multiplex concept in India

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