Carnival Films Re7 billion acquisition of Big Cinemas

Overview:

• Carnival Films has acquired Big Cinemas, the multiplex business of Reliance MediaWorks.
• The deal is valued at Re7 billion and will give Carnival 242 extra cinema screens, giving it over 300 screens across India.
• The deal is the largest M&A transaction to date in the India cinema sector and is part of a broader trend of consolidation that has also seen Cinepolis acquire Fun Cinemas.
• Majmudar & Partners (Rukshad Davar, Amrit Mehta, Kritika Agarwal) acted for Carnival.
• J Sagar & Associates acted for Reliance MediaWorks.