December 14, 2012 / 12:50 PM / 5 years ago

ProSieben to sell Nordic unit, raise dividend

FRANKFURT, Dec 14 (Reuters) - German media group ProSiebenSat.1 said on Friday it had agreed to sell its North-European operations to Discovery Communications and that intends to return part of the proceeds to shareholders though dividend payments.

The company said the agreed enterprise value of the operations it was selling was 1.325 billion euros ($1.73 billion).

ProSieben said it intends to propose a dividend payment of about 5.60 euros per share after completion of the sale, which is expected in the first quarter.

In 2012, the company paid a dividend of 1.17 euros per preference share and 1.15 euros per common share.

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