Zee Entertainment sign merger deal with Sony Pictures Networks India Private Limited
- The Board of Directors of ZEE Entertainment Enterprises Limited (ZEEL) has unanimously approved the merger of the company with Sony Pictures Networks India (SPNI).
- As a part of the merger, shareholders of SPNI will also infuse growth capital into SPNI, which will make them the majority stakeholder in the merged entity.
- Zee Entertainment will hold 47.07 percent stake, while Sony India will hold a 52.93 percent stake in the combined company.
- Following the merger, Sony India will have the right to appoint the majority of directors to the merged company.
- Puneet Goenka, the CEO of Zee Entertainment, will be the MD and CEO of the merged entity for a period of 5 years.
- The merged entity will be listed on the Indian stock exchanges.
Points to Remember:
- Zee Entertainment has approved the merger of the company with which media company?
- Shareholding of Zee Entertainment and Sony in the merged entity?
- MD & CEO of the new entity?
- Which Indian media company has approved its merger with Sony Pictures Networks India ?
Source: Business Standard