NEWS & VIEWS

Global private equity and venture capital news and research

KKR, Permira, complete ProSiebenSat.1exit

20 Jan 2014

telecom tower 2_sqPrivate equity firms KKR and Permira have fully exited their investment in German broadcasting company ProSiebenSat.1 Media.

The two firms sold a 16.6 per cent interest for €1.26bn, or €34.75 per share, said Bank of America, which managed the sale.

In August last year it was reported that KKR and Permira decided to sell off their stake in ProSiebenSat.1 piecemeal after failing to find a buyer for all of its shares.

The firms halved their 88 per cent stake in the company’s stock by converting non-voting preference shares into common shares earlierin August, enabling them to be traded more easily.

They bought a majority stake in the business in 2006 from German Media Partners, which includes Bain Capital, Hellman and Friedman, Saban Capital and Providence Equity Partners as investors.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014