Inox in Talks to buy Gurgaon-Based Satyam Cineplexes: Report
Multiplex operator Inox Leisure is in talks with Satyam Cineplexes to buy the Gurgaon-based rival, a move which would expand its foothold further in the film exhibition market in the northern region.
According to the sources, Inox is in talks with Satyam Cineplexes to acquire its movie exhibition business.
"We are in talks with Satyam Cineplexes to acquire it. It is still at very early stages," the source said.
The source, however, declined to share any information related to the price, funding process and the time for completion of the deal if once finalised.
If the deal is through, it would strengthen Inox's presence in the northern region, which is dominated by Ajai Bijli-led PVR.
INOX has presence in 44 cities and operates 80 multiplexes with 313 screens.
It is expanding at smaller places such as Jammu, Mangalore etc.
Meanwhile, Satyam Cineplexes operates 38 screens in 6 cities with 9 multiplexes.
It has presence in northern region at places such as New Delhi, Rohtak, Amrtisar, Jaipur, Indore. It has also presence at Mysore and Aurangabad.
In May 2013, Inox had merged Fame India, a multiplex cinema theatre firm, with the company after acquiring controlling stake in 2011.
Similarly, in 2007, Calcutta Cinema Private Ltd (CCPL) a West Bengal-based multiplex theatre firm was merged with Inox.
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