NEWS & VIEWS

Global private equity and venture capital news and research

Providence last buyout house standing in ProSiebenSat1 Nordic auction

29 Nov 2012

Providence Equity Partners looks set to go head to head with media group Discovery Communications to buy ProSiebenSat1’s Nordic TV channels, it has emerged.

Both parties are expected to table bids for the assets by the end of Friday according to Reuters, which said owners KKR and Permira were seeking about €1.3bn.

That kind of figure was enough to scare off fellow buyout house BC Partners earlier this month, while interested party Nordic Capital is unlikely to make a bid since its media group partner Bonnier pulled out, Reuters said.

Nordic private equity firm EQT was also an interested party, but it is now thought to have withdrawn from the bidding.

ProSiebenSat1 tried to sell the unit last year but called a halt to the process after failing to receive acceptable bids.

The company sold its Dutch and Belgian operations to a consortium of media companies for €1.2bn last April, as part of a continued process to reduce its debt.

Prosieben’s Nordic arm had revenues of €476m last year out of a group total of €2.97bn

Copyright © 2012 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