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Zee Entertainment Enterprises Ltd. (ZEE), Culver Max Entertainment Pvt. Ltd. (CMEPL), and Bangla Entertainment Pvt. Ltd. (BEPL) have reached a comprehensive non-cash settlement to resolve all disputes related to their proposed merger. The companies announced today that they will withdraw their claims from the ongoing arbitration at the Singapore International Arbitration Centre and cease all related legal proceedings in the National Company Law Tribunal (NCLT) and other forums.
d of Zee Entertainment Enterprises surged 11.49% to settle at ₹150.90 on the BSE at 3.20 pm today.
As part of the agreement, the parties will withdraw their respective Composite Schemes of Arrangement from the NCLT and inform relevant regulatory authorities. The settlement stipulates that none of the companies will have any outstanding obligations or liabilities to each other.
This resolution marks the end of the proposed merger between Zee and Sony’s Indian entertainment businesses, which had been in the works since 2021. Both companies intend to independently pursue future growth opportunities in the media and entertainment sector.
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