Zee Entertainment to acquire 100% stake in Sarthak Entertainment

Zee Entertainment Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 15, 2015 have approved in-principle, acquisition of 100% equity stake in Sarthak Entertainment Private Limited, an entity which owns and operates 'SARTHAK' a leading Odiya language general entertainment channel. The said acquisition shall be from current shareholders of Sarthak Entertainment Private Limited, subject to requisite regulatory approvals, as an all-cash deal at a consideration of maximum of Rs. 115 Crores, including Rs. 15 Crores payable in FY 2017 and 2018, linked to certain performance milestones of the channel. In this regard, the Company has submitted to BSE a copy of Press Release dated July 15, 2015, titled "ZEEL announces acquisition of Sarthak Entertainment Pvt Ltd".Source : BSE

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