Zee promoters in talks with more than 2 buyers to sell over 50% stake

Earlier this week, Essel group had sealed a formal agreement with its lenders to keep its companies afloat, under which it gets time till September to deleverage or pare its debt

Promoters of Zee Entertainment Enterprises Ltd (ZEEL), the flagship firm of troubled Essel group, are open to sell over 50 per cent of their holdings in the firm as a part of their asset monetisation to repay debt, and are in talks with more than two investors for the same, a senior company official said.

Zee Entertainment Enterprises had announced in November last year that its promoters, led by Subhash Chandra, planned to sell up to 50 per cent of their equity stake in the company to a strategic partner.'

"Our intent has not changed...but if somebody is making an offer (to