DLF to sell DT Cinemas to PVR for Rs 500 crore!
Advertisement
Advertisement
Crisis ridden realty major “The deal is in line with our strategy to focus on our core business and divest non-core businesses or assets. It is also reflective of the value embedded in our core assets and demonstrates our commitment to increase shareholder value. It shall provide the management a more focussed approach for enhancing value especially in our retail mall business," said Saurabh Chawla, senior executive director, DLF.
Sharing a similar sentiment, Ajay Bijli, chairman and managing director of PVR noted that the acquisition is in sync with the company’s core strategy to offer the best cinema experience to Indian consumer.
It should be noted that EY India and Luthra & Luthra were the financial and legal advisors respectively to DLF and Shardul Amarchand Mangaldas & Co was the legal advisor to PVR on the transaction.
Currently, DT Cinemas runs 29 screens with an estimated 6,000 seats across eight properties in the National Capital Region and Chandigarh.
Advertisement
Representational Image: Indiatimes.com
Advertisement
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market