November 2012
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PVR buys entire 69.27% promoters stake in Cinemax India

PVR Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 29, 2012, approved, subject to receipt of relevant consents under applicable law, the purchase of entire 69.27% stake in Cinemax India Limited from the Kanakia family, promoters of Cinemax India Limited at a per share price of Rs. 203.65 and a total consideration of Rs. 394,97,54,278 through Cine Hospitality Private Limited, a wholly owned subsidiary of the Company.The Board also approved purchase of upto 26% stake of Cinemax India Limited from the public shareholders pursuant to an open offer under the SEBI
Source: Money Control

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