Multiplex operator PVR Cinemas has decided to acquire DT Cinemas, on a slump sale basis, from DLF Utilities for an aggregate consideration of nearly Rs 500 crore. DLF Utilities operates the cinema exhibition business under the DT Cinemas name.
DT Cinemas currently operates 29 screens with 6,000 seats across eight properties in NCR and Chandigarh. It has plans to add 10 new screens at two properties in the national capital region in the next 12 months. PVR currently operates 467 screens across 105 locations in 43 cities.
Post the acquisition, PVR will have a presence in 44 cities with 115 multiplexes and 506 screens.
Published 09 June 2015, 17:36 IST