A trio of buyout houses are reported to be considering bids for the Scandinavian arm of European media group ProSiebenSat1.
BC Partners, Providence and EQT are up against fellow media company Discovery Communications in the bidding process, according to Reuters, which said the asset could sell for up to €1.4bn.
ProSieben, which is backed by Permira and KKR, 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
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