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Zee Entertainment Enterprises acquires balance 51% stake in FBW

19 Jul 2017 Evaluate

Zee Entertainment Enterprises (ZEEL) has acquired the remaining 51% stake in Fly By Wire (FBW). Consequent to the receipt of approval from Ministry of Civil Aviation and compliance of other requisite formalities, the company has acquired the balance 51% stake in FBW comprising of 10,20,000 equity shares of Rs 10 each.

In March last year, the company had announced that it will fully acquire charter plane services firm FBW for a total consideration of Rs 61.25 crore. In May, ZEEL acquired 49% stake in FBW.

ZEEL is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world.


Zee Entertainment Share Price

87.70 6.64 (8.19%)
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