Promoters to sell majority stake in Zee to pare debt
Punit Goenka to reportedly continue as MD and CEO, though it remains to be seen whether the Essel Group will still be classified as promoters with a residual 5% stake.
invesco oppenheimer
November 2019
September 2019
July 2019
Lenders give Essel more time to repay debt
The Essel Group wanted a time extension to fetch better value for its assets including roads, green energy, and its flagship Zee Entertainment Enterprises.
Promoters sell 11% in Zee to Invesco Oppenheimer
Announcement of the stake sale ends months of speculation regarding the suitor for Zee, and will help promoters deleverage the group’s balance sheet
