Mumbai, 22/9: The news of a big merger deal has come to the fore in the entertainment sector. Zee Entertainment has signed a merger deal with Sony Pictures India. That is, Zee Entertainment will now merge with Sony Pixars. The company has given this information in an exchange filing.
According to the deal, Sony Pictures will invest about $ 1.575 billion (about Rs 11,500 crore) in the merged company. The board of directors of ZEEL in its meeting held on September 22, 2021 has approved this merger deal.
Sony Pictures will hold 52.93 per cent. The promoters of Sony India will infuse growth capital in the company under the merger agreement. Zee Entertainment’s shareholders will hold 47.07 per cent stake in the merged company. Whereas Sony Pictures Networks will hold 52.93 per cent stake in the merged company.
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