Zee-Sony merger: Deal completion expected to take a few more months
NCLT) in August 2023, is still under process, Sony said in a statement. “Both companies continue to proceed with the necessary procedures to complete the transaction," says the statement.
“Although the transaction was previously expected to close by the end of the first half of the fiscal year ending on March 31, 2024, based on the latest progress, it is currently expected to close in the months ahead. Sony continues to assess the impact of the transaction on its consolidated financial results." Zee Entertainment Enterprises Ltd.
(ZEEL) will be delisted from FTSE Global Equity indices following its merger with Sony Entertainment India. ZEE will be replaced by Culver Max Entertainment, which is Sony Pictures Networks India.
Culver Max Entertainment, whose business name is Sony Entertainment India, has put forward a proposal to acquire Zee Entertainment Enterprises. Following this acquisition, Zee Entertainment Enterprises is set to be removed from the stock exchange, as highlighted by FTSE Russell.
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