DE Shaw, one the largest global providers of alternative assets, is investing close to $60 million (Rs 240 crore) in Gemini Industries and Imaging, Chennai, one of the oldest media houses in the country.
The Gemini Group has its interests in film production, equipment hiring and lab processing for the motion picture business.The group has over 75 per cent market share in the equipment hiring business and over 50 per cent market share in the processing lab business for motion picture across Tamil, Telugu and Malayalam film industries.
The Gemini group equipped with this equity infusion, plans to set up the exhibition business in Tamil Nadu and Andhra Pradesh over the next 24 months.The first of 11 multiplex screens will kick start their operations by the end of 1st quarter of 2008 in Chennai. By 2011 they are expected to control over 300 screens.
Read more in The Business Standard article.
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