ZEEL working towards closing merger with Sony: Reports
The Zee Entertainment Enterprises announced that it is working towards bringing its merger with Culver Max Entertainment (Sony Group Corporation) to fruition. The former reiterated in its response to stock exchanges that it is working towards a successful closure of the merger in accordance with the Composite Scheme of Arrangement approved by the NCLT, Mumbai Bench. ZEEL also refuted claims by a publication that said that the merger with Sony may not proceed over disagreements about the CEO appointees. ZEEL wants to put Punit Goenka at the helm of the merged entity, but Sony wants to field its own chief executive NP Singh for the position, owing to Goenka’s involvement in an ongoing fund diversion case with Securities Exchange Board of India.
Tags : Zeel Sony Puneet Goenka