Indian Film Giants Eyes British Cinema Chain
Monday, September 1, 2008 10:01
The Pyramid Saimira Group, which is one of the most prominent film producers and distributors already operating in 6 countries, announced plans to raise $1 billion to fund an ambitious international expansion plan last year. Now the group is looking for opportunities to enter the UK market via taking over the Reel Cinemas, which is an award-winning Midlands-based group that specializes in small luxury theatres showing art house films and classic movies along with other Hollywood blockbusters. It is operating 13 cinemas in the UK and has the developing plans to open another 7 in the next 2 years.
Pyramid Saimira Group is in talks to take control of Reel in a deal that would value the British company at between £25 million and £30 million.
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