Subhash Chandra To Lose Control Of Zee Entertainment After Stake Sale

Media baron Subhash Chandra-led Essel Group on Wednesday said that it is planning to sell a 16.5 per cent stake in Zee Entertainment Enterprises Limited (ZEEL) to financial investors in order to repay loan obligations to certain lenders of the group. After this transaction, the promoter stake in Zee Entertainment will be reduced to 5 per cent, which means that Subhash Chandra will lose control of Zee Entertainment Enterprises.