News > Invesco:Role was to facilitate potential ZEEL-Reliance deal

Invesco:Role was to facilitate potential ZEEL-Reliance deal

Indian Express | 14/10/2021 08:39 AM | Click to read full article

Invesco Developing Markets Fund on Wednesday revealed that the Reliance group negotiated with the Zee group promoter family and Punit Goenka—MD and CEO of Zee Entertainment Enterprises Ltd (ZEEL)—for a takeover or merger deal for ZEEL, and admitted that its role “was to help facilitate that potential transaction and nothing more”. 

ZEEL said on Tuesday that Invesco had pushed for the merger of ZEEL with a large Indian group (strategic group) as early as this February.