Zee and Sony Settle $10B Merger Disputes on August 27

Aug 27, 2024, 09:13 AM

Zee Entertainment Enterprises and Sony India have reached a settlement agreement to resolve all disputes related to their failed $10 billion merger. The agreement, signed on August 27, 2024, includes the withdrawal of all applications and claims before the Singapore International Arbitration Centre and the National Company Law Tribunal (NCLT). Zee Entertainment will also withdraw claims for a $90 million termination fee and damages. The settlement is non-cash and aims to amicably end the legal proceedings between the two companies.