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MUMBAI:
As part of the ongoing strategic reorganisation, Reliance MediaWorks
has announced the divestment of 100 per cent stake of the Big Cinemas'
exhibition circuit in Malaysia to MGO NAF VI Cinematic Holdings
Limited (Navis), a private equity fund.
According
to RMW, the divestment will help it bring greater focus to its high
growth potential exhibition business in India.
The
circuit has been consistently profitable and contributes a market
share of eight per cent of the box office in Malaysia, with strong
parameters in admits revenue per customer and experience. Navis
recently acquired MBO Cinemas in Malaysia, and the Big Cinemas'
portfolio complements the MBO circuit well in terms of location
and coverage.
Reliance
MediaWorks intends to further enhance its focus on the Big Cinemas
network in India, to benefit from the buoyant growth opportunity
in the domestic market.
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