Three funds managed by the Invesco developing markets investment team, including the Invesco Developing Markets Fund, have announced they will invest up to 7.8% of the share capital of Zee Entertainment Enterprises Ltd. for sale as part of a bookbuilding transaction.
“The purpose of this transaction is to align these fund investments in Zee with other funds managed by the investment team and to achieve joint ownership of the company that more closely matches the investment team’s portfolio construction approach,” the statement said.
“Once the bookbuild is complete, the funds managed by Invesco’s Developing Markets investment team, including the Invesco Developing Markets Fund, will continue to collectively own at least 11% of Zee, underscoring the investment team’s belief that the Sony deal in its current form has a great potential for Zee shareholders,” the statement added.
