PVR Inox Ltd has approved the sale of its 93.27% stake in Zeal Media Pvt Ltd (ZMPL) to Marico for Rs 2.27 billion. The deal marks a strategic divestment by the multiplex giant, enabling Marico to expand its portfolio while PVR Inox focuses on core cinema operations.
PVR Inox Ltd, India’s largest multiplex operator, announced a significant corporate move by approving the sale of its majority stake in Zeal Media Pvt Ltd (ZMPL) to FMCG major Marico. The transaction, valued at Rs 2.27 billion, represents a strategic restructuring as PVR Inox seeks to streamline its business and concentrate on its core entertainment operations.
Key highlights from the announcement include
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PVR Inox Ltd approves sale of 93.27% stake in ZMPL.
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Deal valued at Rs 2.27 billion, signaling a major divestment.
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Marico to acquire controlling interest, strengthening its media and brand outreach.
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Transaction expected to improve PVR Inox’s balance sheet and reduce non-core exposure.
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Strategic move aligns with PVR Inox’s focus on cinema and entertainment expansion.
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Marico gains access to ZMPL’s assets, enhancing its consumer engagement strategies.
The sale underscores PVR Inox’s intent to consolidate resources around its multiplex business, especially at a time when the entertainment industry is witnessing rapid digital transformation. For Marico, the acquisition provides an opportunity to diversify and strengthen its consumer connect through media-driven initiatives.
Sources: Reuters, Economic Times, Business Standard