CCI has directed multiplex-major PVR to publish details of the proposed combination relating to acquisition of film exhibition business of DLF Utilities Limited (“DUL”) in the prescribed format within 10 working days of the direction, under Section 29(2) of the Act.
Shorn of details, the combination entails acquisition of 39 cinema screens (29 existing and 10 upcoming) of DUL by PVR along with infrastructure and operations associated with these cinema screens. Horizontal overlaps in the proposed combination involve cinema exhibition screens in multiplexes in Delhi NCR as well as Chandigarh regions.
Such publication is the only instance where CCI has expressed the apprehension that the proposed combination causes or is likely to cause appreciable affect on competition in the market. Upon publication of the details of the notice, the CCI may also invite any person or member of the public, affected or likely to be affected by the said combination, to file his written objections, before the Commission within fifteen working days from the date on which the details of the combination were published under sub-section (2).
After the combination between Holcim/ Lafarge and Sun-Pharma/Ranbaxy, this is the third combination which has been investigated in detail (popularly known as a“Phase-II” investigation) by the CCI.