India’s one of the largest multiplex company PVR is looking to acquire Waves Cinemas for Rs 450 crore by the end of 2018 or early 2019, reported Economic Times.
PVR will acquire 12 properties and 46 screens of the north India multiplex chain panned across cities including Noida, Lucknow, Chandigarh and Jammu, the report said citing the sources.
However, PVR has denied of any such deal in the pipeline. “We are not in discussions for acquisition of Wave Cinemas. PVR has just completed the acquisition of SPI Cinemas and is currently focused on its integration with our business,” a company spokesperson told ET.
Earlier this month, PVR acquired south India’s leading multiplex company SPI Cinemas for Rs 633 crore in a cash and stock transaction and will have a total screen count of 706 screens across 152 properties and 60 cities to its portfolio.