Another 16% Slice of India’s Zee to be Sold by Essel
www.imdb.com- Author: Patrick Frater
- November 21,2019
The Essel Group is to sell a further 16.5% stake in Zee Entertainment Enterprise Limited, India’s largest private sector broadcast group. The debt-reduction move comes just months after Essel auctioned off an 11% tranche of Zeel.
“The Group seeks to sell up to 16.5% stake in Zeel to financial investors, in order to repay loan obligations to certain lenders of the (Essel) Group for whose benefit such shares are currently encumbered (and who have consented to such share sale by the Group),” Essel said in a filing posted to the Bombay Stock Exchange on Wednesday evening. Essel revealed that its holding in
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“The Group seeks to sell up to 16.5% stake in Zeel to financial investors, in order to repay loan obligations to certain lenders of the (Essel) Group for whose benefit such shares are currently encumbered (and who have consented to such share sale by the Group),” Essel said in a filing posted to the Bombay Stock Exchange on Wednesday evening. Essel revealed that its holding in
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