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Updated: PVR To Buy DLF’s DT Cinemas For Rs.560M, Equity To Major Cineplex Group

Update: The PVR-DT acquisition is being delayed due to pending compliance issues on part of DT Cinemas. PVR Cinemas has, in a notice issued to the BSE, revealed that the two companies have agreed to extend the long stop date (legalese for when the acquisition is slated to be complete) to February 15, 2010. PVR will acquire DT Cinemas for Rs. 202 million and the issuance of 2,557,000 equity shares to DT Cinemas on a preferential basis. Earlier (Nov 16, 2009): Multiplex chain PVR has finally announced the acquisition of DLF Group's non-core business DT Cinemas on a slump sale basis, plus a bonus: an exclusive multiplex partnership. This news comes close on the heels of its sale of 10% equity to Thailand's leading theatre owner Major Cineplex Group for Rs. 420 million, as reported by Zee News. Major Cineplex…

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