Navis acquires Malaysia’s BIG Cinemas

The investment was structured through a Navis-owned entity known as MGO NAF VI Cinematic Holdings.

BIG, which holds an 8% share of the box office in Malaysia, is thought to be highly synergistic in terms of location and coverage with MCAT Box Office (MBO), Malaysia's third largest cinema operator, which Navis bought in April. The PE firm's strategy on the MBO deal was to digitalize and refurbish the chain's existing cinemas, and bring them to new locations across Malaysia.

The exit from BIG Cinemas for RMW, meanwhile, comes after the firm controlled by billionaire Anil Ambani signed a term sheet regarding a INR6.05 billion ($109.7 million) investment from a foreign private equity fund. RMW will use the capital to cut debt and for business expansion.

With a market capitalization of $50.8 million, RMW's other businesses are TV production unit under BIG Synergy, and a film and media services unit.

By restructuring the film and media services business into one or more subsidiaries, RMW hopes to offer more choice to strategic investors. The business in question includes motion picture processing, image enhancement and restoration, animation and visual effects.

It is expected to account for 60% of RMW's total revenues in the 2013 fiscal year, up from 40% at present.

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• Topics
• Southeast Asia
• Media
• Buyouts
• Navis Management