The Board of Directors of ZEE Entertainment Enterprises Limited (ZEEL) has in-principle approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL.

SPNI will also infuse growth capital into SPNI as part of the merger such that SPNI has approximately $1.575 billion at closing for pursuing other growth opportunities.

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Basis the existing estimated equity values of ZEEL and SPNI, the indicative merger ratio would have been 61.25% in favour of ZEEL. However, with the proposed infusion of growth capital into SPNI, the resultant merger ratio is expected to result in 47.07% of the merged entity being held by ZEEL shareholders and the remaining 52.93% of the merged entity being held by SPNI shareholders.

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ZEE Entertainment Enterprises Limited (ZEEL)-View Detailed Analysis