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India: CCI approves PVR, DLF’s multiplex business deal

 |  May 8, 2016

PVR is working on renegotiating the terms of DT Cinemas deal with DLF after the Competition Commission of India approved the transaction albeit with some changes.

Last June, PVR had announced the acquisition of DT Cinemas for Rs 500 crore after aborting a similar deal in February 2010.

CCI approved the DLF DT Cinemas acquisition deal but asked the companies to exclude certain assets from the deal to address anti-competitive concerns.

After prima facie finding that the transaction could impact competition in the relevant market, CCI, last year, had put the deal for public scrutiny.

In a tweet, the watchdog said it has cleared “PVR’s acquisition of DT Cinema’s multiplexes/single screen theaters in Delhi NCR and Chandigarh, subject to modification”.

In a regulatory filing, DLF said now, the deal will exclude seven screens — DT Savitri and DT Saket , according to The Economic Times.

Full Content: The Hindu Business Line

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