PVR to buy 69% stake in Cinemax

December 3, 2012

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