At meeting held on 09 June 2015
PVR announced that the Board of Directors of the Company at its meeting held on 09 June 2015, has approved acquisition of the cinema exhibition business of DLF Utilities.Accordingly, PVR Limited executed definitive agreements with DLF Utilities to acquire its cinema exhibition business, which is operated under the brand name of "DT Cinemas", on slump sale basis for an aggregate consideration of Rs. 500 (Five hundred) crores approx.
DT Cinemas currently operates 29 screens with approximately 6,000 seats across 8 properties in the National Capital Region and Chandigarh. In the next 12 months, DT proposes to add 10 new screens at two properties in the National Capital Region. Currently, PVR has 467 screens across 105 locations in 43 cities. As a result of the proposed acquisition, PVR will have a presence in 44 cities with 115 multiplexes and 506 screens.
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