Company briefs: FJ Benjamin; Zee Entertainment; CES
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FJ Benjamin
Retail group FJ Benjamin Holdings (FJB) on Tuesday said it will raise $3 million from a Far East Organization unit for expansion.
Western Properties, a member of the Far East Organization group of companies, has agreed to subscribe to 120 million new FJB shares at 2.5 cents each.
FJB will also explore strategic opportunities to collaborate with Far East Organization on new businesses as well as within its present brand portfolio, it said in a bourse filing.
THE BUSINESS TIMES
Zee Entertainment
Zee Entertainment Enterprises, India's largest listed television network, approved a merger agreement with Sony Group's local unit amid a complicated boardroom and courtroom feud between Zee's founders and its largest shareholder.
Sony Pictures Networks India will own a 50.86 per cent stake in the merged entity while Zee's current holding firm Essel will own 3.99 per cent, according to an exchange filing from Zee yesterday. Public shareholders will have the remaining 45.15 per cent as part of the definitive agreement.
BLOOMBERG
CES
Amazon.com, Meta Platforms, Pinterest, Twitter and several news outlets have cancelled plans to attend the annual CES technology conference in Las Vegas, a response to surging Covid-19 cases around the world. The show, put on by the Consumer Technology Association, is still scheduled to get under way early next month.
Samsung Electronics, a key presenter at CES, said on Tuesday it was "closely monitoring the current health situation" and planning to take appropriate measures.
BLOOMBERG
