Zee Enterprises board has approved merger with Sony Pictures
Punit Goenka will continue to be the CEO and Managing director of the merged entity
Zee’s shares surged over 20% on the BSE post the deal announcement
Zee has been under pressure from top investors like Invesco for a while
They had sought the removal of its three directors, including Punit Goenka from the board
In the merged entity, the shareholders of Sony Pictures will hold a majority stake
