Essel Group sell Stake of ‘ZEEL’
Subhash Chandra-led Essel Group completes its online streaming platform ZEEL stake sale, which is 8.7 percent, to Invesco Oppenheimer Developing Markets Fund.
Besides, Essel group is also working actively on further divestments including its non-media assets, Essel group said in a regulatory filing.
Earlier on July 31 this year, Essel Group had announced to sell 11 percent promoter stake in Zee Entertainment Enterprises Ltd (ZEEL) to Invesco Oppenheimer for Rs 4,224 crore.
"The group wishes to confirm that the 1st tranche of the transaction comprising the sale of 8.7 percent stake in ZEEL has been successfully concluded today," it said.
The company further said, "The group is confident of completing the balance sale of 2.3 percent stake over the next few days."Essel group, whic...