99.99% Zee shareholders approve merger with Sony

17 Oct,2022

By Our Staff

 

Zee Entertainment Enterprises Ltd.  has informed that the company’s equity shareholders have approved the proposed merger of ZEEL and Bangla Entertainment Pvt. Ltd. with and into Culver Max Entertainment Pvt. Ltd. (formerly Sony Pictures Networks India Pvt. Ltd.)

 

The resolution put forth during the meeting pertaining to the proposed merger was whole-heartedly supported by 99.99% of ZEEL’s equity shareholders, notes a communique, adding:  The approval marks yet another firm and positive step forward, in the overall merger completion process.

 

Said Punit Goenka, MD & CEO, ZEE Entertainment Enterprises Ltd: “On behalf of all the Board members and management of ZEEL, I would like to thank the equity shareholders of the Company for recognising the value-accretive opportunities the proposed merger will deliver to all stakeholders. The continued trust and overwhelming support by our equity shareholders towards the resolution of the Composite Scheme of Arrangement, further strengthen our abilities to consistently deliver higher value as we move forward in this process.”

 

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