Inox Leisure to merge with PVR in an all stock amalgamation
- The respective Board of Directors of multiplex chains PVR Ltd and Inox Leisure (INOX) have approved an all stock amalgamation of Inox with PVR.
- As per the deal, the shareholders of Inox will get three shares of PVR for every 10 shares held in the company.
- Post merger, the combined entity will be named as PVR INOX Limited and the new cinemas opened post the merger will be branded as PVR INOX.
- PVR Promoters will have 10.62% stake in the combined entity while INOX Promoters will have 16.66% stake.
- Ajay Bijli would be appointed as the Managing Director of the merged entity.
Points to Remember:
- Share of PVR and INOX in the combined entity?
- Who will be the MD of the combined entity?
Source: Business Standard