KKR, Permira Offload Small ProSiebenSat.1 Stake

MUNICH: The private-equity firms KKR and Permira are selling 8 million preferred shares in ProSiebenSat.1 Media, with proceeds to be used to repay debt and increase liquidity at their jointly held vehicle Lavena Holding.

The shares, which represent about 3.7 percent of ProSiebenSat.1’s share capital, are being offered for 24.525 euros each.

Following the transaction, which will bring in some 196 million euros, Lavena will continue to hold 53 percent of ProSiebenSat.1 and 88 percent of its voting rights.