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PE Firm Warburg Buys Rs 820 Crore Stake In Indian Cinema Operator PVR

Affiliates of private equity firm Warburg Pincus have bought a 14 per cent stake in India's largest multiplex chain PVR Ltd for Rs 820 crore, PVR said on Wednesday

Photo Credit : Reuters

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Affiliates of private equity firm Warburg Pincus have bought a 14 per cent stake in India's largest multiplex chain PVR Ltd for Rs 820 crore ($120.5 million), PVR said on Wednesday (January 18).

Warburg bought the stake from affiliates of private equity firm Multiples Alternate Asset Management and PVR's founders, India's biggest cinema chain operator said in a statement.

Multiples Alternate Asset will continue to hold a 14 per cent stake in PVR, while PVR's founders will remain the biggest shareholders with a more than 20 per cent stake, it said.

Shares of PVR, which currently operates 562 screens across 48 cities, closed at a record high after earlier rising as much as 7.7 per cent, in a broader Mumbai market that gained 0.2 per cent.

(PTI)


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pvr warburg pincus acquisitions Alternate Asset