ProSiebenSat.1 sale fails to attract buyer

It was reported last month that the investors had established an exit route after the company's shareholders approved a 1:1 stock conversion deal. The agreement saw non-voting preference shares converted into voting common shares, which were all admitted to stock exchange trading.

However, according to Reuters, KKR and Permira have not been able to find a buyer for the remaining shares.

It is understood the buyout duo will now seek a gradual sell down of their holdings, which is expected to be a smooth process following the recent conversion of the non-voting preference shares.

KKR and Permira's joint interest in the company stands at 44% and is worth around €3.4bn, according to reports.

The pair first invested in ProSiebenSat.1 in 2006, buying up a 50.5% stake in a deal worth more than €3bn and subsequently acquired the remaining shares in early 2007.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH
• Exits
• Media
• KKR
• Permira