Sathyam Cinemas to change hands

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Monday, Jan 12, 2015

Sathyam Cinemas to change hands

The Ajay Bijli led PVR group seems set to acquire Chennai's premier movie exhibition company SPI Cinemas, popularly known as Sathyam Cinemas, in what could end up to be the biggest deal in Bijli's career as well for India's multiplex sector.

Multiple sources aware of the on-going discussions said save last-minute developments, the deal may close for a rather steep valuation of approximately Rs 750-1,000 crore for just 40 odd screens, located predominantly in the Southern metro.

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