Zee Entertainment Enterprises Ltd. (ZEEL), a leading content company, Friday received an approval from the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) for its proposed merger with Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India Private Limited).
The approval from the stock exchanges marks a firm and positive step in the overall merger approval process. The approvals permit the Company to proceed with the next steps in the overall merger process.
The Composite Scheme of Arrangement remains subject to applicable regulatory and other approvals.
