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Home Featured

Invesco to sell 5.5 pc stake in ZEEL worth $169.5 million

by MN4U Bureau
October 18, 2022
in Featured, Media
Reading Time: 1 min read
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Is Invesco arm twisting Punit Goenka for refusing its merger deal with a Strategic Group?
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Three days after shareholders of Zee had approved the merger of the company with Sony Pictures, Invesco Developing Markets Fund will sell a 5.51 pc stake in Zee Entertainment Enterprises Ltd for $169.5 million or up to Rs 1,396 crore in a block trade.

With this deal, Invesco will offload over half of its stake in Zee Entertainment, which stood at 10.14 pc as of 30 June, 2022, held through OFI Global China Fund LLC.

Reportedly, the price for the deal was reported to be in the range of Rs 250 to Rs 263.7 per share. 

In April 2022, after withdrawing its demand for an extra ordinary general meeting (EGM), Invesco sold  7.74 pc stake in Zee Entertainment for Rs 2,092 crore.

Tags: InvescoZee Entertainment EnterprisesZEEL

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