ZEEL starts due diligence process for merger with Sony Pictures Networks

Zee Entertainment (ZEEL) has commenced the due diligence process for its proposed merger with Sony Pictures Networks India (SPNI), a subsidiary of Japan’s Sony Corp, following a non-binding agreement signed in September.
The process of due diligence has started and is in full swing now, as the companies have to close it within the stipulated 90-day time frame. This is actually a “tight schedule”, considering both the companies have a large presence across metros and large cities, sources close to the development said.