Invesco to sell 7.8% stake in Zee worth Rs 2,200 cr on Thursday

Invesco will sell Zee shares at the rate of Rs 270.50-Rs 290.90 per equity share - a discount of up to 7% discount to the last close price of Rs 290.90 on Wednesday on NSE

Invesco Developing Markets, the largest shareholder of Zee Entertainment Enterprises, is selling 7.8 per cent stake worth Rs 2,200 crore in the entertainment major via block deals on Thursday. Invesco owns 18.8 per cent stake in Zee and has supported the merger between Zee and Sony Entertainment.

In September last year, Invesco had sent a notice to Zee seeking a change in the board of Zee citing corporate governance lapses. After Zee moved the courts, both parties were litigating in the courts. After Zee announced a merger with its rival Sony Entertainment in December, Invesco supported the transaction even as