Carnival Cinema in talks to buy UAE, Bahrain cinemas

India’s Carnival Cinemas and a partner in the United Arab Emirates (UAE) are in talks to buy Qatar-based Novo Cinemas’ theatres in the UAE and Bahrain, three sources familiar with the matter told Reuters.

The potential deal highlights moves to separate cross-border businesses in the Gulf following a boycott imposed on Qatar by Saudi Arabia, the UAE, Bahrain and Egypt since June 2017.

Carnival Cinemas has been in talks with UAE-based Emirates National Holdings as a potential co-investor, one of the sources said. Carnival operates in 115 cities in India, according to its website.

Foreign companies typically partner with local companies in the Gulf due to ownership laws. Bollywood films are popular in the UAE and Gulf, where there is a sizeable South Asian community.