Zee Entertainment Enterprises: Event update
22-09-2021

Event update:

The Board of Directors of ZEE Entertainment Enterprises Limited (ZEEL) unanimously provided an in-principle approval for the merger between Sony Pictures Networks India (Sony India) & ZEEL. Sony India will also infuse capital for pursuing growth opportunities.

Based on the merger ratio, 47.07% of the merged entity will be held by ZEEL shareholders and the remaining 52.93% by Sony India’s shareholders. In a statement, Zee said its board has evaluated the merger not only on financial parameters, but also on the strategic value which Sony brings to the table. The board concluded that the merger will be in the best interest of all the shareholders & stakeholders.

 

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