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Last Updated : Jul 19, 2017 12:46 PM IST | Source: Moneycontrol.com

Zee Entertainment rises 3% on full acquisition of Fly By Wire

Share price of Zee Entertainment Enterprises rose 3.8 percent intraday Wednesday as it has completed the acquisition of Fly By Wire.

 
 
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Share price of Zee Entertainment Enterprises rose 3.8 percent intraday Wednesday as it has completed the acquisition of Fly By Wire.

On approval from Ministry of Civil Aviation and compliance of other requisite formalities, the company has acquired the balance 51 percent equity stake in Fly By Wire International comprising of 10,20,000 equity shares of Rs 10 each at an aggregate consideration of Rs 1,40,25,000.

Upon said acquisition the Fly By Wire has become wholly owned subsidiary of the company.

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At 12:37 hrs Zee Entertainment Enterprises was quoting at Rs 546.85, up Rs 16.75, or 3.16 percent on the BSE.

The share touched its 52-week high Rs 588.80 and 52-week low Rs 444.25 on 03 October, 2016 and 23 December, 2016, respectively.

Posted by Rakesh Patil

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First Published on Jul 19, 2017 12:46 pm
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