Zee-Sony merger
ZEE Entertainment shareholders approve merger with Sony Pictures Networks
New Delhi: ZEE Entertainment Enterprises Ltd (ZEEL) on Friday said that its shareholders have given the green signal to the proposed merger of ZEEL and Bangla Entertainment Pvt Ltd with and into Culver Max Entertainment Pvt Ltd (formerly Sony Pictures Networks India).
The entertainment firm in a statement said that 99.99% of equity shareholders approved the proposed Composite Scheme of Arrangement.
It further noted that the approval marks yet another firm and positive step ahead in the merger completion process.
"As per the order of the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, dated 24th August 2022, the company convened the meeting of its equity shareholders on 14th October 2022, to seek approval for the proposed merger.
The resolution put forth during the meeting pertaining to the proposed merger was wholeheartedly supported by 99.99% of ZEEL’s equity shareholders," the company statement said.
(With UNI inputs)
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