February 13, 2008
by Amrit Pal

PVR and Major Cineplex Group of Thailand have entered into joint venture agreement to bring lifestyle entertainment concepts to Indian consumers. The joint venture would set up bowling alleys, karaoke centers, ice skating rinks and gaming zones in and around the company's multiplexes.

The capital of the new joint venture is approximately 90,000,000 INR. For the investment structure of the new joint venture,PVR Limited will invest in the proportion of 51% and the Major Cineplex will invest in the proportion of 49% (or approximately Baht 38,600,000)* of the total capital of the new joint venture. Resulting from this transaction, the new joint venture will become a new associate of the Major Cineplex. It is expected that this investment will occur within the second quarter of year 2008.[majorcineplex.com ]

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