Invesco Sells 5.11% Stake in Zee Entertainment Enterprises for Rs 1,004 Crore
Invesco, the US-based investment firm, has divested its entire stake in Zee Entertainment Enterprises Ltd (ZEEL) through an open market transaction.
The 5.11 percent stake was sold for Rs 1,004 crore to buyers such as Segantii India Mauritius, Morgan Stanley Asia Singapore Pte, and Goldman Sachs Singapore Pte ODI.
OFI Global China Fund LLC, the arm of Invesco, sold more than 4.91 crore shares at an average price of Rs 204.50 apiece, equivalent to a 5.11 percent stake in the Mumbai-based media and entertainment company.
The transaction took place as per the bulk deal data available with the BSE. As of the March quarter, OFI Global China Fund held more than 4.91 crore shares, the equivalent of a 5.11 percent stake in ZEEL.
On the BSE, the shares of Zee Entertainment closed 2.11 percent lower at Rs 203.80 per piece.
Zee Ltd, owned by Essel Group, is an Indian media conglomerate that operates 45 channels worldwide. With its headquarters located in Mumbai, the company has diverse interests that include television, print, internet, film, and businesses related to mobile content.
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