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Our Bureau

Chennai June 25 GV Films will form a joint venture with the President Group of Hotels, Chennai, to put up a Rs 75-crore hotel-cum-shopping mall-cum-theatre project on the East Coast Road.

The project will house a 100-room star hotel. The theatre section will have between 10 and 15 screens. A few of them will be small — about 30 seats — suitable for private viewing of movies.

Meanwhile, the company's board has in principle approved a `scheme of demerger', breaking GV Films into three entities to run the businesses of film production, exhibition and Web streaming of films.

Details of the scheme such as de-merger ratio are being worked out by the company's consultants, Deloitte Haskins & Sells.

More Stories on : Alliances & Joint Ventures | Hotels | Cinema | Tamil Nadu

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