Invesco’s funds to sell 7.8% stake in Zee

Mumbai

Three funds managed by Invesco’s Developing Markets investment team, including Invesco Developing Markets Fund, have announced to sell up to 7.8% of share capital of Zee Entertainment Enterprises Ltd. through a book-building transaction.

“The purpose of this transaction is to align these fund exposures to Zee with other funds managed by the investment team and to achieve an aggregate ownership position in the company that is more in line with the investment team’s portfolio construction approach,” according to a statement.

“Upon completion of the bookbuild, funds managed by Invesco’s Developing Markets investment team, including Invesco Developing Markets Fund, will continue to own in aggregate at least 11% of Zee, underscoring the investment team’s belief that the Sony deal, in its current form, has great potential for Zee shareholders,” the statement added.