Anil Ambani, is looking forward to sell a controlling stake of worth 80% in his multiplex Big Cinemas business to Carnival Films. IT is coming out that after months of negotiations, Big Cinemas would be sold to Carnival Films, a Kochi based agri trading company for Rs 725 crores.
Reliance however will hold minor stake and discussions are going on for a complete 100 percent buyout. Clear picture will be emerging in couple of weeks. Carnival will get access to 258 movie screens of Big Cinemas across India.
Big Cinemas is the third largest film exhibitor in India. Carnival Films spokesperson declined to comment on the deal.
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