New Delhi, Feb 20: Pyramid Saimira Theatre Ltd today said its board has approved an investment up to a sum not exceeding Rs 300 crore in group companies. The board also approved the commencement of Food and Beverages business, said a statement.
The meeting also considered Pyramid Saimira Entertainment Ltd, Singapore's proposal to acquire majority stake in Pyramid Saimira Production International Ltd to leverage and synergise production and distribution operations. ''This proposal of Pyramid Saimira Entertainment Ltd, Singapore was considered by the Board of directors in their meeting held on February 19, 2008 and it was unanimously felt that, such stake acquisition, will result in better consolidation of distribution and production, and also improve valuation and financial leveraging capacity of Pyramid Saimira group as a whole,'' said the statement.
Pyramid Saimira Group' is one of the India's largest entertainment group spanning across four countries (India, Malaysia, Singapore and USA). Its business includes Film Production, TV Content Production, Theatres (exhibition).