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CJ CGV, the exhibition arm of CJ E&M, has boosted its market share in the Indonesian theatrical screening sector. With an investment of USD 30.1 million in Graha Layar Prima, which runs the CGV-Blitz multiplex chain, CJ CGV has seen their stake rise from 14.75% to 40.25%.

The Korean exhibition giant’s move into the Indonesian exhibition sector marks the first such investment for a foreign outfit. In February of this year, bans on non-Indonesian companies into the certain local sectors such as exhibition, distribution and production, were lifted. The announcement was made by Indonesian president Joko WIDODO and will need to be made official through the judiciary branch of the government. CJ has already been in business with Blitz for a number of years, offering technical, management and loan support. The company acquired its initial stake in Blitz in 2014.

CJ CGV, which is the fifth largest exhibitor in the world, has been aggressively expanding in a number of markets. It recently acquired Turkey’s largest cinema chain Mars in a deal worth USD 688 million and is already the largest exhibitor in South Korea and Vietnam. Other nations which it operates theaters in include China, Hong Kong and the United States. CJ CGV now operates 130 multiplexes at home and an additional 111 abroad.