KKR, Permira sell $1 bln stake in German broadcaster ProSieben
FRANKFURT, Sept 3
FRANKFURT, Sept 3 (Reuters) - The private equity owners of ProsiebenSat.1 are selling an 11 percent stake in the German free-to-air broadcaster, KKR and Permira said in a joint statement on Tuesday.
The accelerated bookbuilding process for the 25 million shares - worth roughly 800 million euros ($1.05 billion) - will start immediately, the investors said.
After the transaction, KKR and Permira will retain a combined stake of 33 percent in ProsiebenSat.1.
The investors had announced months ago that they were planning to reduce their holdings through share placements.
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