Multiplex chain PVR Ltd today said it is acquiring 71.69 per cent stake in South India-based SPI Cinemas for about Rs 633 crore in an all cash deal.After years of on-again-off-again negotiations, Ajay Bijli-led India’s leading multiplex chain PVR LtdNSE -1.30 % has finally reached an agreement with South India’s largest premium cinema exhibitor SPI Cinemas to acquire the company at an enterprises valuation of over Rs 850 crore. In a cash and stock deal PVR will acquire SPI Cinemas, which operates brands like Sathyam Cinemas, Escape, Palazzo, The Cinema and S2, in key markets of Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Kerala