Sony may buy 20% stake in Zee Entertainment

Zee Entertainment is in the news for quite some time. Recent reports said that Japanese electronics and entertainment giant Sony Corp is in talks to acquire 20% stake in Subhash Chandra-controlled Zee Entertainment Enterprises Ltd.

The company’s promoters may sell 20-25% stake in  Sony Corp to raise funds and to repay debt, the reports said,

The amount raised could be used to repay promoter debt worth Rs 13,000 crore.Essel Group holds a 41.62% stake in Zee Entertainment.

Reliance Industries was also in the race to buy stake in Zee Entertainment, but the deal did not materialise.

Subhash Chandra was in talks with buyers to sell the group’s assets, including infrastructure assets and parts of the financial services business.

Earlier in November, the company had decided to divest 50% of its shareholding.

 

Leave a Reply

%d bloggers like this: