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JSA for Reliance, Majmudar for Carnival Films $111m buyout of Big Cinemas

Majmudar & Partners advised Carnival Films on its Rs 700 crore buyout of Reliance Mediaworks’ multiplex division Big Cinemas. Reliance was advised by J Sagar Associates (JSA).

Majmudar Mumbai partner Rukshad Davar acted for Carnival, which is backed by a Kochi-based commodity trader.

JSA Mumbai partners Akshay Chudasama, Jay Gandhi and Gaurav Singhi acted for Reliance, together with associates Neety Thakkar, Soumya Shanker and Meghna Nachappa.

Four M&As have happened in the multiplex sector in the last six months including this deal the Inox deal, the Fun Cinemas deal and the Broadway Cinemas sellout, reported Mint.

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