KKR, Permira Dump 8 Million ProSieben Shares
Based on current stock prices, the sale will net KKR and Permira over $250 million.
COLOGNE, Germany -- Private equity groups KKR and Permira are set to sell 8 million of their shares in European broadcaster ProSiebenSat.1 to institutional investors. Based on current stock prices, the sale will net KKR and Permira a bit over $250 million.
KKR and Permira will maintain control of ProSieben. Even after the sale they will hold 53% of the broadcaster and 88% of its voting shares.
ProSieben shares have soared in the past two years, climbing more than 2,000% as German TV weathered the advertising downturn.