Cinepolis looking forward to expand business in India
Mexican multiplex chain Cinepolis is scouting for acquisitions in India as it looks to expand presence in the country with a target of having over 400 screens by the end of 2017. The company that is eyeing presence in top 40 cities in India has already stated that it expects the country to account for 10 per cent of its global revenue in the next three years.
Cinepolis India Managing Director Javier Sotomayor said that they are looking at opportunities in inorganic growth. We have been looking at different opportunities over time. When asked what kind of target the company is scouting for.
He said that they would like to transact and to acquire companies at a value we would consider to be fair. Again, for us it is very important that the assets we acquire have to make sense with our overall strategy. The quality of the locations is very important and Cinepolis is very selective on where to have its presence, he added.
The multiplex chain is looking forward to establish its chain of business here in India soon.
Source: The Hindu Business Line
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