KKR disposes of ProSieben share package
According to a «Bloomberg» report, U.S. private equity firm and major Springer shareholder KKR plans to sell a large portion of its stake in the ProSiebenSat.1 television group. KKR reportedly intends to place 11 million ProSiebenSat.1 shares with institutional investors overnight.
This was reported by the financial news agency on Tuesday. That would be 4.7 percent of the share capital. KKR had last reported a 6.6 percent stake in ProSiebenSat.1. Media group Axel Springer had always rejected speculation about plans for an alliance with the operator of private stations such as ProSieben, Sat.1, Kabel 1 and online platforms.
KKR and ProSieben did not want to comment on the placement. According to Bloomberg, the shares are to be placed at a price between 13.42 euros and the Xetra closing price of 14.14 euros. This would represent a maximum price discount of 5.1 percent. The shares, which are listed in the MDax small cap index, have recently risen sharply and reached a twelve-month high on Friday. (SDA)
