Friday, Mar 29 2024 | Time 14:43 Hrs(IST)
image
Business Economy


ZEEL receives approval from CCI for proposed merger with Sony

Mumbai, Oct 4 (UNI) ZEE Entertainment Enterprises Ltd (ZEEL) on Tuesday said that it has received an approval from the Competition Commission of India (CCI) for its proposed merger with Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India Private Limited).
The CCI has granted the approval in Phase-1 after evaluating the official legal and economic submissions made by the company, a statement from the company said

"Considering the immense value which the proposed merger will generate for all its stakeholders, the Company has offered the necessary remedies in accordance with the regulator’s guidelines. Detailed order is awaited," the statement said.

The company termed the approval from the CCI as a yet another positive step in the overall merger approval process.

In its order pronounced on 7th September 2022, the National Company Law Tribunal (NCLT) had advised the company to convene and conduct the meeting with its shareholders on 14th October 2022, to seek their approval for the proposed merger.

"The Composite Scheme of Arrangement remains subject to applicable regulatory and other approvals," the statement added.
UNI AKM SHK2214
More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image