Subash Chandra to cede control of Zee Entertainment after stake sale

Subash Chandra to cede control of Zee Entertainment after stake sale

The Subhash Chandra-led Essel group on Wednesday, November 20 said that it is planning to sell 16.5 per cent stake in Zee Entertainment Enterprises Limited (ZEEL) to financial investors in order to repay loan obligations to certain lenders of the group. After this transaction, the promoter stake in Zee Entertainment will be reduced to 5 per cent, which means that media baron Subhash Chandra will lose control of Zee Entertainment Enterprises Ltd. Zee, considered to be the pioneer of television entertainment industry in India, was launched by Subhash Chandra in 1992.

Read more at 
International Business Times, India Edition

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