Reliance Media-Works Limited completed the sale of its multiplex business to Kochi based Carnival Cinemas that fetched 700 crore rupees.Reliance Media-Works operates under the protection of Reliance Capital which runs in ‘BIG Cinemas’ a cinema chain that own over 250 screens across the country.The sale procedure of Reliance Media-Works had started in December 2014 in line with its objective of focusing on core financial services businesses and to reduce the overall debt.
Note: The Carnival Cinemas is based in Kochi, with this deal arnival cinema has become India’s 3rd largest multiplex-operator and now will own over 300 screens.
Reliance Media-Works completes sale of multiplex business
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