PVR-Sathyam Cinemas deal called off

PVR was supposed to buy Sathyam for Rs 1200 crore. According to sources, the deal got called off due to concerns over valuation.

One of the largest M&A deals in the multiplex space has been called off. Sources say PVR 's ambitious plans to buy Chennai-based Sathyam Cinemas has been shelved.

PVR was supposed to buy Sathyam for Rs 1200 crore. According to sources, the deal got called off due to concerns over valuation.

Sources also add that Cinepolis Group is now likely to buyout Sathyam Cinemas. Cinepolis Group recent bought Fun Cinemas.

When contacted, PVR said it cannot comment on market speculation, while Sathyam and Cinepolis were unavailable for comments.

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