Zee Entertainment to Be Delisted from FTSE Global Equity Indices Following Merger

Zee Entertainment to Be Delisted from FTSE Global Equity Indices Following Merger

VoM News Desk | September 20, 2023 | 06:49 AM IST | Breaking News | Follow on Google News

Zee Entertainment to Be Delisted from FTSE Global Equity Indices Following Merger.

Zee Entertainment Enterprises Ltd. (ZEEL) is set to be delisted from FTSE Global Equity indices due to its merger with Sony Entertainment India. Culver Max Entertainment, which represents Sony Pictures Networks India, will replace ZEE in the indices.

The merger between Zee Entertainment Enterprises and Sony Entertainment India has received approval from the National Company Law Tribunal (NCLT). One of the key conditions of the merger is that Punit Goenka will continue as the Managing Director and CEO of the merged entity.

The effective date of the merger, Zee Entertainment Enterprises’ last trading day, and the listing date of Culver Max Entertainment have not yet been confirmed.

As per the merger terms, eligible Zee Entertainment Enterprises shareholders will receive 85 new Culver Max Entertainment shares for every 100 shares held.

FTSE Russell anticipates that Culver Max Entertainment will replace Zee Entertainment Enterprises in the FTSE Global Equity indices based on the merger terms once the merger is completed.

Please note that the situation may evolve, so investors and stakeholders should stay updated on the merger’s progress and its impact on both companies’ shares and listings.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.