PVR sells bluO entertainment to market leader Smaaash

PVR India, the largest multiplex company of its kind, will be under the scanner during Wednesday’s trading session due to its move to divest ‘bluO entertainment’. PVR has entered into definitive agreements with Smaaash Entertainment Private (Smaaash) to sell its stake in bluO entertainment, a premium bowling and entertainment format operated by the company.
 
As a part of this deal, Smaaash Entertainment, an acclaimed world-class gaming and entertainment company, has acquired 100% stake in blueO entertainment, which is a joint venture between PVE Limited and Cineplex Group of Thailand in which PVR owns 51% stake with balance 49% stake held by the majority group.
 
The acquisition marks an increase of area under Smaaash management from 2,76,000 square feet to approximately around 6,00,000 square feet in India. The significant acquisition also adds six centres across five cities to Smaaash’s existing blueprint of seven centres in India and one in Minneapolis in the United States. The newly acquired centres will operate under SMAAASH branding and two more centres are expected to open shortly. Smaaash will introduce its signature games at all bluO centers, which only had bowling before.