PVR, DLF deal postponed to Feb 15

PVR has postponed its plans to buy the cinema exhibition business of DT Cinemas, a subsidiary of DLF, till February 15, 2010.

The acquisition was to be financed through Rs 20.20 crore in cash and preferential issue of 25,57,000 equity shares of PVR to DT Cinemas in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

But the issuance of shares to DT Cinemas has been deferred as DT Cinemas needs to meet compliance requirements.