ProSiebenSat.1 to be sold
Germany's largest television group ProSiebenSat.1 is apparently about to be sold. According to Welt Kompakt, the financial investors KKR and Permira want to largely exit the company by the end of 2011.
A sale via the stock exchange or to an individual investor is being examined, as the newspaper claims to have learned from financial circles. KKR and Permira joined ProSiebenSat.1 at the end of 2006 for a good three billion euros and later bought additional shares. The two investors hold 88 percent of the ordinary shares and just under 25 percent of the preference shares (60 percent of the shares in total). Now that the share price has recovered from less than one euro to more than 23 euros in the last two years, the investors apparently want to make an exit.
However, an IPO is by no means certain, according to the statement. A sale to an individual investor "in parallel and on an equal footing" is also being examined. As potential individual investors, the companies are primarily looking at Americans, for whom this is one of the rare opportunities to enter the European media market on a large scale. However, buyers within Europe are also conceivable.
However, an IPO is by no means certain, according to the statement. A sale to an individual investor "in parallel and on an equal footing" is also being examined. As potential individual investors, the companies are primarily looking at Americans, for whom this is one of the rare opportunities to enter the European media market on a large scale. However, buyers within Europe are also conceivable.
