Reuters FRANKFURT Sep 3
KKR (KKR.N) and Permira (PERM.UL), the controlling owners of ProsiebenSat.1 (PSMGn.DE), are selling a quarter of their stake in the German free-to-air broadcaster, the two private equity firms said.
The accelerated bookbuilding process for an 11 percent stake that is worth roughly 800 million euros ($1.05 billion) will start immediately, the investors said in a joint statement on Tuesday.
They are hoping to sell the shares at around 31 euros apiece, a discount of roughly 4 percent to Tuesday’s closing price of 32.29 euros, a source familiar with the transaction told Reuters.
After the placement, KKR and Permira will retain a combined stake of 33 percent in ProsiebenSat.1.
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KKR, Permira sell $1 bln stake in German broadcaster ProSieben
