U.S. Hedge Fund Asks Indian Media Mogul to Exit One of His Firms
- Moon Capital asks Subhash Chandra to sell his Zee Learn shares
- Fund also wants board seat as an independent director
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A U.S. hedge fund has urged Indian media mogul Subhash Chandra to sell his shareholding in his group’s education arm to pave the way for a change in management, according to a person familiar with the matter.
Moon Capital Management has asked Chandra to offload the majority stake he and his Essel Group holds in Zee Learn Ltd. and give a board seat to the asset manager, the person said, asking not to be identified as the discussions are private. The person cited concerns about debt at the group, corporate governance and strategy as the reasons for the request.