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PVR acquires the cinema unit of realty giant DLF

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The top realty brand of India DLF has recently made a sell of its cinema units – DT cinema to the prominent chain of theaters – PVR. Sources reported at www.propertykhazana.com states that the deal of the cinema was nearly Rs 23 crore in cash and rest was made in terms of the equity amounting 2.50 million of shares of PVR. It is nearly 10 percent of the total PVR business and from now onwards PVR will be the sole body to handle all the entertainment screens of the existing and the upcoming retail units of DLF across the country.
Sources of www.propertykkhazana.com also reveals that the DT cinema has a career graph of nearly 29 screens functioning at different locations mainly in northern parts of the country like Delhi, Chandigarh and Gurgaon. The deal was a lucrative assignment for the entertainment giant PVR with very low price tags as per some confidential note of the industry.
On a short note with www.propertykhazana.com Pia Singh from DLF entertainment house states that “the new partnership will lead a better portfolio to DLF as well as to PVR with better retail customers to the segment”. The realty giant of the country operates many high end malls at the capital region under the brand of DLF Place, Emporio and City Centre. Earlier the DLF group has also declared to sell its wind power unit for an amount nearing Rs 900 crore and also to put Delhi convention centre on sell with Rs 850 crore. For more and latest real estate updates browse www.propertykhazana.com.
Source: NBTVLIVE

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