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Essel Group completes 1st tranche of ZEEL stake sale

DNMUM442746 | 9/11/2019 | Author : DNA Correspondent | WC :316 | Business & Economy



The promoters of the multi-faceted business conglomerate Essel Group have been progressing well on their commitments to repay lenders comprising mutual funds and non-banking financial companies (NBFCs).
The overall asset divestment initiatives undertaken by the promoters reaffirm the group’s approach to generate adequate liquidity to complete the repayment exercise. Working actively on further divestments, including its non-media assets, the group is confident about meeting its commitments to the lenders.
The group, on Tuesday, said that it has successfully completed the first tranche of ZEE Entertainment Enterprises Limited’s (ZEEL) stake sale to Invesco Oppenheimer Developing Markets Fund. Earlier in July, the group had entered
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