Invesco Oppenheimer Developing Markets Fund has agreed to make an additional investment in ZEE Entertainment Enterprises (ZEEL). The Fund has agreed to buy up to an 11% stake in ZEEL from its promoters, for a total consideration value of up to Rs 4,224 crore.
The announcement of 11% stake sale of ZEEL to the Fund is a strong step in the overall divestment process, giving the Promoters the required financial fillip to initiate the repayment process.
Zee Entertainment Enterprises 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.