Carnival group, which handle's multiplex chain of Carnival Cinemas, all set to acquire Elan Group's 100 per cent stake in Novo Cinemas United Arab Emirates and the Kingdom of Bahrain, on last night for an undisclosed sum. Novo Cinemas currently runs 104 screens with over 16,000 seats across 10 properties in the United Arab Emirates and the Kingdom of Bahrain, made a proposal of expansions of over 50 additional screens over the next coming years. Carnival Group has entered into a definitive agreement with Elan Group to acquire its 100 per cent stake in Novo Cinemas United Arab Emirates and the Kingdom of Bahrain," the company said in the release. If we view the current stakes of the company operations in India, Singapore and the United Arab Emirates. "We are now entering into Middle Eastern countries with this deal to explore new market opportunities," Shrikant Bhasi, chairman and founder, Carnival group, was quoted as saying in the release. In August last year, Inox had acquired100% stake in New Delhi-based Satyam Cineplexes for Rs 182 crore. The acquisition gave Inox an entry into Delhi (and neighbouring Gurgaon, Greater Noida and Faridabad), which is ruled by PVR. Inox Leisure CEO Alok Tandon had said that they will be adding a further 156 screens over the next two years, which would take their total screen count to 514.  PVR had also had 69.3% stake in competing for multiplex chain Cinemax for Rs 394 crore in November 2012. You may also like:- Bollywood Movies 2018 Upcoming Movies List Box office collection Superhit Movies List Top 10 Highest Grossing Movies 100 Crore Club