Zee Entertainment signs and symptoms merger deal with Sony Pictures India by admin- Wednesday, September 22nd, 2021 04:21:36 PM
Zee Entertainment Enterprises surged with the aid of 14.Ninety eight% to Rs. 293.95, after the business enterprise signed a merger cope with Sony Pictures Networks India Pvt Ltd.
“Zee Entertainment Enterprises board has authorized the execution of a non-binding time period sheet with Sony Pictures Networks India for a scheme of arrangement for the merger of the company and Sony India and infusion of boom capital by the promoters of Sony India,”.
The indicative preliminary merger ratio is expected to result in the shareholders of the Company maintaining approximately forty seven.07% in the merged corporation and the promoters of Sony India holding about 52.Ninety three% inside the merged business enterprise.