Pyramid Saimira says in talks to takeover UK theatre chain

MUMBAI: Pyramid Saimira Theatre has clarified that the company is in negotiations for the takeover of a theatre chain in UK, and proposes to raise $400 million in funds. The company further said that some of its subsidiaries and joint ventures are raising funds for further expansion.

It will inform the stock exchanges on both the developments when the plans are finalized. The clarification to NSE follows media reports that Pyramid Saimira may acquire a theatre chain that owns 70 screens in the UK, and may also raise $1 billion abroad.