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PVR Ltd announced on Friday that it has acquired DLF Group’s DT Cinemas.The acquirer will pay DT Cinemas Rs 20.2 crore in cash and give 25.57 lakh shares of PVR Ltd.
As part of the overall alliance, PVR shall be offered exclusive rights to operate as a key anchor multiplex partner in all future mall developments of the DLF Group.
Commenting on the acquisition, Mr Ajay Bijli, Chairman and Managing Director PVR Ltd, said, “The acquisition of DT Cinemas and long-term strategic partnership with the DLF Group is part of our expansion strategy.
PVR will now control 60-70 per cent of the market share in Delhi and Gurgaon market.”
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