Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Invesco sells 5.11% stake in Zee Entertainment for Rs.1,004-Cr
Invesco affiliate OFI Global China Fund has sold 5.11 % stake in Zee Entertainment Enterprises (Zee) to mop up INR 1,004 crore. The US-based investment manager sold 49.1 million shares at INR 204.5 apiece. Among the buyers were Segantii India and Morgan Stanley. Prior to the stake sale, Invesco held 5.65 % in Zee. With the latest stake sale, Invesco -- which in the past had been at odds with Zee promoters over board composition and governance issues -- has almost fully exited the media major.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.