Takeover of ProSiebenSat.1 signed and sealed

The German television company ProSiebenSat.1 has officially had new owners since Tuesday. The financial investors KKR and Permira have completed the majority takeover, as reported by the news agency Sda. KKR and Permira currently hold around 88 percent of the shares and around 13 percent of the preference shares, which corresponds to almost 50.5 percent of ProSiebenSat.1's capital. The two private equity firms are planning to create the largest TV group in Germany. To this end, they want to merge their media group SBS with dozens of television and radio stations in Europe in order to compete with Europe's largest television and radio company RTL.