PVR Cinemas, India's largest film exhibition chain, which itself has grown up to become a colossus through acquisitions, may well sell a controlling stake to Wanda Cinema of China. In a report, a national financial daily has revealed the details about what is transpiring behind the screens.
Describing Wanda Cinema as Asia's largest film group and theatre operator Wanda Cinema, the report says that its promoter Wang Jianlin (China's richest man) has "revived talks with Ajay Bijli, the promoter of PVR Ltd". Bijlis, who control 25.26 per cent of their flagship, are the main stakeholders.
In total, PVR Cinemas has a vast presence in 17 states, owning about 553 screens.
"The multiplex industry is set for multiyear growth supported by demographics, rising income levels, propensity for movies and huge supply of content", the report adds.
