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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 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 finalised.
If the deal comes through, it would strengthen Inox’s presence in the northern region, which is dominated by the Ajai Bijli-led PVR.
INOX has a presence in 44 cities and operates 80 multiplexes with 313 screens. It is expanding in smaller places such as Jammu and Mangalore.
Meanwhile, Satyam Cineplexes operates 38 screens in six cities with nine multiplexes.
It has a presence in the northern region in places such as New Delhi, Rohtak, Amritsar, Jaipur and Indore. It also has a presence in 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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