Multiplex major PVR Ltd buying promoters' shares in rival Cinemax India Ltd at Rs 203.7 per share. PVR will end up paying Rs 395 crore to take up 69.3% stake in the company. The Board of Directors of the Company at its meeting held on November 29 approved subject them to receipt of relevant consents under applicable law through Cine Hospitality Private Limited, a wholly owned subsidiary of the company.
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