Pyramid Saimira board to consider acquisition
Pyramid Saimira board to consider acquisition A meeting of the board of directors of Pyramid Saimira (Q, N,C,F)* Theatre will be held on September 24, 2007, to consider certain proposals in connection with acquisition of theatre chains abroad. Recently, there were reports that private equity majors Carlyle Group and Citigroup Venture Capital International (CVCI) were in the race for acquiring 15% equity stake in the Chennai-based theatre chain company, Pyramid Saimira.
>Pyramid Saimira Theatre has won the bid for Australian theatre chain co mpany, Hoyts Cinemas, promoted by the Kerry Packer group. The media company passed the initial technical bid round and had entered the financial bid round.
Shares of the company gained Rs 6.15, or 1.79%, to trade at Rs 349.85. The total volume of shares traded was 78,310 at the BSE. (11.30 a.m, Friday)
