Shardul Amarchand Mangaldas Advises PVR Limited on Sale of its Stake in PVR BluO Entertainment to Smaaash Entertainment

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Shardul Amarchand Mangaldas Advises PVR Limited on Sale of its Stake in PVR BluO Entertainment to Smaaash Entertainment
Shardul Amarchand Mangaldas Advises PVR Limited on Sale of its Stake in PVR BluO Entertainment to Smaaash Entertainment

Shardul Amarchand Mangaldas Advises PVR Limited on Sale of its Stake in PVR BluO Entertainment to Smaaash Entertainment

Shardul Amarchand Mangaldas & Co (‘SAM & Co’) advised PVR Limited (‘PVR’) on sale of 100% shareholding in the arcade games joint venture company PVR BluO Entertainment (‘PVR BluO’) to Smaaash Entertainment (‘Smaaash’) for approximately INR 86 Crore. PVR owns 51% in PVR BluO, while Thailand’s Major Cineplex Group owns the rest. PVR BluO currently operates 6 indoor and outdoor gaming centres across India with 2 additional centres expected to open shortly. The sale is part of PVR’s strategy to sell non-core assets and focus on its main cinema exhibition business.

 

The Mergers & Acquisitions Group of SAM & Co’s General Corporate Practice acted as the legal advisor for PVR and was involved in drafting and negotiating all transaction documents and for providing general corporate advisory on the deal. The transaction team was led by Ms. Akila Agrawal, Partner; and included Mr. Sourav Kanti De Biswas, Partner and Mr. Sanchit Garg, Associate.

 

The parties involved in the transaction were PVR (Client), Major Cineplex and Smaaash (The Counter Party).

 

Other Advisors to the transaction were ANM Global Inc. (legal advisor for Smaaash) and EY (financial and tax advisor for PVR and Major Cineplex)

 

The deal was signed on August 8, 2017 and is expected to close in approximately 15 -20 days.

 

About Shardul Amarchand Mangaldas & Co

With the legacy of a century, Shardul Amarchand Mangaldas & Co, established in 2015, is one of India’s leading law firms rated by international organisations, law directories and professional journals. As a full service law firm, Shardul Amarchand Mangaldas is renowned in the business community for its ability to enable business, its innovative solutions, responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” in its “Centenary Year of Excellence”.

Currently, the Firm has over 480 lawyers, including 91 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai.

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