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| Exchange Disseminated Time 02/09/2016 18:57:24 | With reference to the earlier announcement dated May 31, 2016 on completion of sale and transfer of the cinema exhibition business (operated under the brand name of “DT Cinemas”) comprising of 32 screens to PVR Ltd., DLF Ltd has now informed BSE that DLF Utilities Ltd., (DUL), a subsidiary has completed a transaction today i.e. September 02, 2016 with Cinepolis India for sale and transfer of remaining seven screens pertaining to DT Cinemas (Saket-6 screens & Greater Kailash Part 2-1 screen) as a going concern on a slump sale basis for a consideration of Rs. 63.67 crore upon receipt of CCI approval.
With the closure of this transaction, the Company will exit from the cinema exhibition business. This is in line with the Company’s strategy to focus on Company’s core business and divest non-core businesses or assets.
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