Private equity firm Warburg Pincus has acquired a 14% stake in PVR Cinemas from the existing investor Multiples Alternate Asset Management and promoters of PVR, including MD Ajay Bijli, for around Rs. 820 crore..DealWarburg Pincus acquires 14% stake in PVRValue 820 croreDeal TypePESectorSpecialty Retail (films exhibition, distribution and production)Law FirmsAZB & Partners – Multiples Alternate Asset Management; Shardul Amarchand Mangaldas – Warburg Pincus and PVR PromoterPartners/HeadsAZB & Partners – Ashwath Rau and Dhruv Singhal; SAM – Akshay Chudasama, Akila Agrawal.AZB & Partners represented Multiples Alternate Asset Management Pvt Ltd. The team was led by Senior Partner Ashwath Rau and Partner Dhruv Singhal..Shardul Amarchand Mangaldas advised Warburg Pincus on the deal through a team led by Mumbai Managing Partner Akshay Chudasama. Delhi Partner Akila Agrawal acted for the promoter of PVR..According to the Hindu, PVR is the largest multiplex player in the country. It currently operates 562 screens in 122 properties in 48 cities across the country.
Private equity firm Warburg Pincus has acquired a 14% stake in PVR Cinemas from the existing investor Multiples Alternate Asset Management and promoters of PVR, including MD Ajay Bijli, for around Rs. 820 crore..DealWarburg Pincus acquires 14% stake in PVRValue 820 croreDeal TypePESectorSpecialty Retail (films exhibition, distribution and production)Law FirmsAZB & Partners – Multiples Alternate Asset Management; Shardul Amarchand Mangaldas – Warburg Pincus and PVR PromoterPartners/HeadsAZB & Partners – Ashwath Rau and Dhruv Singhal; SAM – Akshay Chudasama, Akila Agrawal.AZB & Partners represented Multiples Alternate Asset Management Pvt Ltd. The team was led by Senior Partner Ashwath Rau and Partner Dhruv Singhal..Shardul Amarchand Mangaldas advised Warburg Pincus on the deal through a team led by Mumbai Managing Partner Akshay Chudasama. Delhi Partner Akila Agrawal acted for the promoter of PVR..According to the Hindu, PVR is the largest multiplex player in the country. It currently operates 562 screens in 122 properties in 48 cities across the country.