Multiplex operator Inox
Leisure has said that it will acquire Gurgaon-based rival Satyam Cineplexes in
a Rs.182-crore deal, which would strengthen its presence in North
India . The Mumbai-based exhibitor will acquire 100% equity share
capital of Satyam from its promoters. The company's board at its meeting
“approved the acquisition of 100 % equity shares of Satyam Cineplexes for a
total consideration of Rs.182 crore”. Post acquisition, Inox would be present
in 50 cities with 91 multiplexes and 358 screens.
The company said that, the
proposed acquisition of one of the industry's prime assets, is a part of Inox's
strategy to expand its footprint across the country and gives INOX a
significant foothold in the North Indian region.
This is the third acquisition
of Inox in last seven years. In May 2013, Inox had merged Fame India
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