Essel Group to sell 50% in ZEEL
Entertainment-toeducation conglomerate Essel Group has said that it will divest up to 50 per cent stake in its subsidiary, Zee Entertainment (ZEEL), to raise capital for expansion and transform the company into a global media player. It has appointed Goldman
Sachs India as an investment banker, while US and Europe-based LionTree will be the international strategic adviser for this exercise. "The proposed transaction is expected to address the Essel Group's capital allocation priorities and will allow ZEEL shareholders to capture the full value of India's largest entertainment broadcaster with a strengthening bouquet," the company has said in a media release.