The Essel Group sold around 16.5% stake (in aggregate) in Zee Entertainment Enterprises Limited (ZEEL) to (i) OFI Global China Fund, LLC (off-market) and (ii) other investors by way of block trade on National Stock Exchange of India Limited (“Transaction”).

The promoter group of Zee Entertainment Enterprises (ZEEL) sold more than 14 crore shares in bulk deals on November 21. Promoters Cyquator Media Services sold 61,626,543 shares, ESSEL Corporate LLP sold 11,838,350 shares, and ESSEL Media Ventures sold 69,403,106 shares in the company via bulk deals at an average price of Rs 304 per share. The big buyers were Government of Singapore which bought 28,500,000 shares and Societe Generale bought 16,690,000 shares of the company. — Moneycontrol

Cyril Amarchand Mangaldas advised the Essel Group companies Cyquator Media Services Private Limited, Essel Corporate LLP and Essel Media Ventures Limited, led by a team of managing partner Cyril Shroff, partner Akila Agrawal (head M&A), and partner Mukul Sharma with support from principal associate Ishita Khandelwal. The capital markets team was led by partner Gokul Rajan and partner Shatarupa Dasgupta.

2019-11-18

Deal value: Approx INR 4978 crores.

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