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Written by Neha Chauhan Wednesday, 03 February 2010 14:11
Khaitan & Co senior partner Haigreve Khaitan led the transaction for INOX along with senior associates Aakash Choubey and Ashish Razdan.
Mumbai firm Naik Naik & Co has acted for the seller promoters of Fame. Managing partner Ameet Naik and partner Madhu Gadodia were the lead partners on the deal.
Haigreve Khaitan said in a statement: "This transaction was quite challenging given the complexities involved and limited time frame to deliver results.
"INOX Leisure, its parent Gujarat Flourochemicals and group companies have been our long-standing client and we advise them in almost all of their transactions."
With this acquisition INOX has become one of India’s largest theatre chains with a combined strength of 55 multiplexes and 204 screens and a total seating capacity of 57,891 seats.
The deal is funded by INOX's promoter company Gujarat Fluorochemicals Ltd through a shareholder loan.
Enam Securities was the investment banker to INOX and Fame India was advised by Yes Bank as the investment banker.
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