Zee Entertainment Enterprise Limited (ZEEL) has acquired ZEE UK Max Ltd (ZUML). “ZUML is incorporated with the objective of Media & Entertainment Business to evaluate rationalization and restructuring, ” mentioned ZEEL in its letter to the Bombay Stock Exchange (BSE).
ZEEL informed the BSE of its incorporation of ZUML in the United Kingdom on September 28 with an initial share capital of £25000 that was divided into 25000 ordinary shares of £1 each, fully paid-up.
“Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR Regulations’), we hereby inform you that Zee UK Max Limited, a wholly owned step-down subsidiary company of the Company has been incorporated in UK,” said ZEEL in its disclose to the BSE.
ZUML is yet to commence its business operations.