Indian multiplex company Carnival and Elan Group plan to acquire a 100 percent stake in Qatar-headquartered Novo Cinemas.
The deal is pegged at $87.5 million.
Ernst & Young was the exclusive financial advisor on the transaction. Eversheds Sutherland and Hadef & Partners were the legal advisors to Elan Group and Carnival Group.
The transaction is subject to applicable regulatory and statutory approvals and customary closing conditions.