ZEEL-Sony Merger Deal Gets NCLT's approval, All Objections Related To The Deal Dismissed By NCLT

New Delhi: The National Company Law Tribunal (NCLT) on Thursday gave approval to the mega merger deal between Zee Entertainment Enterprises Limited (ZEEL) and Sony Pictures Network India (SPNI)

Pronouncing its verdict on the merger of Zee Entertainment Enterprises and Sony Pictures Networks India, the NCLT dismissed all objections related to the deal.

Post-development, the stock of Zee Entertainment Enterprises (ZEEL) jumped 15 per cent to Rs 278.40 on the BSE.

Sony, which will invest USD 1.575 billion, will hold 52.93 per cent stake in the merged entity and Zee the remaining 47.07, Zee Entertainment Enterprises (ZEEL) had earlier said in a statement.

 

This is a developing story. Further details awaited.