ProSiebenSat sold
Posted by Jean Yves Chainon on December 15, 2006 at 12:01 PM
Levena Holding 4 GmbH, controlled by private equity groups Kohlberg Kravis Roberts (KKR) and Permira, officially concluded its buyout of ProSiebenSat.1, for €3.1 billion.
ProSiebenSat, one of Germany's biggest free-to-air broadcasters, was valued at €5.8 billion and the German Media Partners will trade 50.5% of the shares to KKR and Permira.
ProSieben’s main owner, Haim Saban, had purchased the bankrupt company (then named Kirch Media Group) three years ago: the value of its shares nearly quadrupled since then (from €7.50 to €28.50).
It seems that ProSieben CEO Guillaume de Posch and most of his management team will stay onboard, at least in the beginning.
Despite some big media talks about consolidating assets and putting a halt to major deals, 2006 will end on the same trend of massive mergers and buyouts.
Source: Follow the Media
ProSieben’s main owner, Haim Saban, had purchased the bankrupt company (then named Kirch Media Group) three years ago: the value of its shares nearly quadrupled since then (from €7.50 to €28.50).
It seems that ProSieben CEO Guillaume de Posch and most of his management team will stay onboard, at least in the beginning.
Despite some big media talks about consolidating assets and putting a halt to major deals, 2006 will end on the same trend of massive mergers and buyouts.
Source: Follow the Media
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