DLF shares jump as realty major to sell 32 screens to PVR for revised price of Rs 433 cr

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Published: May 31, 2016 12:38:13 PM

DLF shares jumped over 2 per cent on Tuesday after the realty major said it has entered into an amended agreement to sell its 32 screens of DT cinemas to multiplex operator PVR at a revised consideration of Rs 433 crore.

DLF shares - PVR screensDLF shares jumped over 2 per cent on Tuesday after the realty major said it has entered into an amended agreement to sell its 32 screens of DT cinemas to multiplex operator PVR at a revised consideration of Rs 433 crore.

DLF shares jumped over 2 per cent on Tuesday after the realty major said it has entered into an amended agreement to sell its 32 screens of DT cinemas to multiplex operator PVR at a revised consideration of Rs 433 crore.

At 12.21 pm, shares of the company were trading 2.14 per cent up at Rs 129.05. The scrip opened at Rs 127 and has touched a high and low of Rs 129.85 and Rs 126.15, respectively, in trade so far. Sensex was trading 49.88 points down at 26,675.72.

DLF operates the multiplex arm DT cinemas and exhibition business under its subsidiary DLF Utilities.

Earlier this month, Competition Commission had approved PVR’s proposed acquisition of DT Cinemas from DLF while directing the companies to exclude certain assets from the deal to address anti-competitive concerns.

In June last year, PVR had announced the acquisition of DT Cinemas for Rs 500 crore after aborting from a similar deal in February 2010.

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