MUMBAI: As part of the ongoing strategic reorganisation, Reliance MediaWorks has announced the divestment of 100 per cent stake of the Big Cinemas‘ exhibition circuit in Malaysia to MGO NAF VI Cinematic Holdings Limited (Navis), a private equity fund.

According to RMW, the divestment will help it bring greater focus to its high growth potential exhibition business in India.

The circuit has been consistently profitable and contributes a market share of eight per cent of the box office in Malaysia, with strong parameters in admits revenue per customer and experience. Navis recently acquired MBO Cinemas in Malaysia, and the Big Cinemas‘ portfolio complements the MBO circuit well in terms of location and coverage.

Reliance MediaWorks intends to further enhance its focus on the Big Cinemas network in India, to benefit from the buoyant growth opportunity in the domestic market.