CCI seeks public scrutiny of Rs500-crore PVR-DT Cinemas deal.Public comments on the deal can be submitted to the regulator till 5 January 2016. New Delhi | PTI | Dec 13, 2015 12:31 AM IST.
Competition Commission of India (CCI) has sought comments from the public on India’s largest multiplex chain PVR Ltd’s proposed Rs.500 crore acquisition of DT Cinemas after finding that prima-facie the deal was likely to adversely impact competition.
This is at least the third time in a little over a year that CCI has put a major deal for public scrutiny. Last year, it had sought comments from public on two mega transactions—the $4 billion Sun Pharma-Ranbaxy deal and Holcim-Lafarge deal. In both the instances, the regulator had called for divestment of certain assets by the entities concerned to address anti-competition concerns.
“The commission is of the prima-facie opinion that the combination is likely to have an appreciable adverse effect on competition...and accordingly has directed PVR to publish details of the combination for bringing it to the knowledge of the public and persons affected or likely to be affected by such combination,” the regulator said in a release.
PVR had approached the regulator in July seeking approval for the deal with DT Cinemas to acquire its 39 screens (29 existing and 10 upcoming) in Delhi, Gurgaon, Noida and Chandigarh.
Public comments on the deal can be submitted to the regulator till 5 January 2016. Livemint | PTI