Indian arm of Mexican company Cinepolis and leading Indian multiplex chain PVR are in talks of a merger. A successful merger could reshape the Indian film exhibition industry. The merger is anticipated to be announced in March 2022.
People with direct knowledge in the matter have said that the plans are moving towards fruition quickly. A successful merger will create a giant entity that will end up controlling 1,200 screens all over the country, which is almost two times the number of screens operated by the second biggest entity: INOX.
Cinepolis shall remain as the biggest shareholder of the merged entity with a holding of 20%. Promoters of PVR will be given 10% and 14%, but Ajay Bijli, CMD OF PVR will have management control for over 3 years while Cinepolis willl have Board seats in the company.
Highlight by Aman Agarwal.