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Indian exhibitor PVR Cinemas is set to receive a $19.3m cash injection after selling a 10% stake to L Capital Asia, a private equity fund backed by French luxury goods manufacturer Louis Vuitton Moet Hennessy (LVMH). PVR and L Capital are also setting up a joint venture to invest in companies operating entertainment, gaming, food and other leisure facilities in shopping malls. L Capital will invest $9m in the joint venture and PVR is contributing Blu-O Entertainment, its bowling alley […] Sahara Group has agreed to buy a controlling stake in New York’s landmark Plaza Hotel for $570 million, Elad Properties said. The 105-year-old luxury hotel overlooking New York’s Central Park, is jointly owned by Elad Properties and Saudi-based Kingdom Holdings Co. Elad said it would receive 1.6 billion shekels ($400 million) for its 60 percent stake, while Kingdom will receive the rest. Kingdom, the investment vehicle of Saudi billionaire Prince Alwaleed bin Talal, will hold a 25 percent stake once […] Intensifying row with its minority stakeholder, Norway’s Telenor-controlled Indian venture Uninor on Wednesday put on auction its entire telecom business for a minimum of Rs 4,000 crore, a move opposed strongly by Unitech. The Nordic countries’ biggest phone operator wants to scrap the joint venture with Unitech and migrate its business to a new company to seek fresh operating licences as the JV’s 22 telecom permits were among the 122 quashed by the Supreme Court in February. Telenor, which holds […] |