Zee Entertainment gets Bombay HC approval for merger of R-GEC business of Zee news with itself
Zee Entertainment Enterprises (ZEEL) has informed that the Bombay High Court at the hearing held on March 19, 2010 has granted the approval for scheme of arrangement between ZEEL, Zee News and their respective shareholders.
Following this approval, record date for the proposed de-merger of regional general entertainment channel business undertaking of Zee News and transfer / vesting of the said undertaking to Zee Entertainment Enterprises is likely to fall in April 2010.
The shareholders of ZNL as on record date shall be allotted shares in ZEEL in the ratio of 4 equity shares of Re 1 each of ZEEL for 19 equity shares of Re 1 each held in ZNL.
Accordingly, the R-GEC Business will be consolidated with ZEEL with effect from January 01, 2010.
Popularity: 5% [?]
Category: Stock-News
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
