Big deal in the film industry, the merger of these two companies will change the multiplex business, know the whole matter

Big deal in the film industry, the merger of these two companies will change the multiplex business, know the whole matter

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Mumbai . The news of a big deal is coming out from the film industry. The news of merger is coming in two big companies related to multiplex business, PVR and Cinepolis. According to media reports, India’s leading multiplex chain PVR and Mexican company Cinepolis’s local units in India are in the advanced stage of talks for merger. According to the news published in The Economic Times quoting sources, this deal is on the verge of completion fast.

The Economic Times has informed, quoting sources, that work is on to finalize this merger agreement. But according to the information that has come so far, after the merger, Cinepolis will be the largest shareholder with about 20 percent stake in the company.

over 1200 screens
If this agreement is concluded, then such a big company will emerge which will have more than 1200 screens. It has also been told in this report that the stake of the promoter of PVR in the company formed after the merger will be between 10-14 percent. Ajay Bijli, CMD of PVR, will have to complete management control of the company for at least three years.

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Awaiting Approval
The board of the company formed after the merger will include the directors of Cinepolis. Both sides are working fast on this agreement. This merger will also not require the approval of the Competition Commission of India as the combined earnings of these two companies have been less than Rs 1000 crore this year due to the slowdown caused by Kovid-19.

Will be the largest company after the merger
Let us inform that PVR operates 846 screens in 176 multiplexes in 71 Indian and Sri Lankan cities with a total seating capacity of 182,000. While Cinepolis operates 417 screens in 93 multiplexes across 61 locations in 22 states of India. With the merger of these two companies, there will be 1,263 screens on 269 sites. At the same time, the company’s competitor INOX Leisure has 675 screens in 160 multiplexes in 72 cities.

At present, the stock of PVR was seen falling by Rs 45.45, or 2.9 percent, around Rs 1,520.10 on the NSE around 1.10 pm in today’s trading.

Tags: Deals of the Day, film industry, Film release, Multiplexes

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