Adlabs acquires majority stake in Malaysian cinema chain
Mumbai: Adlabs Films, part of the Reliance Anil Dhirubhai Ambani Group, has entered into an agreement for acquisition of majority and controlling interest in Malaysia-based Lotus Five Star Cinemas.
It will be operating a 51-screen cinema chain in Malaysia and play mainstream Hollywood films as well as Chinese and Malay films. It will also screen Indian language films such as Hindi and Tamil.
"This acquisition will strengthen Adlabs Cinemas' international presence. The international network, in addition to Malaysia, comprises 220 screens covering the East, Mid West and West Coast of USA as also Mauritius and Nepal," said Anil Arjun, senior vice president Reliance ADAG, in a press statement.
Adlabs Cinemas is one of the largest cinema chains in India and presently has 160 screens nationwide.
IANS
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