ZEE shares rise 2% on acquisition distribution business from Zee Studios

ZEE shares rise 2% on acquisition distribution business from Zee Studios

Zee Entertainment Enterprises (ZEE) share price rose over 2 percent intraday on December 18 after the company's board approved the acquisition of film production and distribution business from Zee Studios.

The company approved the acquisition of film production and distribution business as a going concern, on a slump sale basis from Zee Studios Limited (formerly known as Essel Vision Productions Limited), a wholly-owned subsidiary of the company, for a cash consideration of Rs 275 crore, the company said in the release.

At 11:56 hrs, Zee Entertainment Enterprises was quoting at Rs 227.20, up to Rs 1.30, or 0.58 percent on the BSE.