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    PVR completes acquisition of 71.6 per cent stake in SPI Cinemas

    Leading multiplex operator PVR on Friday said it has completed the acquisition of 71.69 per cent share of Chennai-based SPI Cinemas.

    PVR completes acquisition of 71.6 per cent stake in SPI Cinemas
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    PVR Cinemas

    New Delhi

    SPI Cinemas operates 76 screens across 17 properties in 10 cities under several brands such as Sathyam, Escape, Palazzo, The Cinema and S2 Cinema. It reported a revenue of Rs 309.6 crore in FY 2017-18.

    “PVR Ltd has completed the acquisition of 71.69% of the paid share capital of SPI involving the acquisition of 1,91,534 equity shares constituting 61.65% of the paid-up share capital of SPI from SS Theatres LLP and 31,177 equity shares consisting 10.04% of the paid-up share capital of SPI from SV Swaroop Reddy....,” PVR said in a regulatory filing.

    Last week, PVR had announced to acquire 71.69% stake in SPI Cinemas for about Rs 633 crore, in an all-cash deal.

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