KKR and Permira to sell Nordic business for up to €1.5bn
Two private equity firms and a trade player are in talks with German PE-backed broadcaster ProSiebenSat.1 Media regarding the acquisition of its Nordic unit – a deal that could fetch up to €1.5bn, according to reports.
Reports suggest Providence Equity Partners, Nordic Capital and Discovery Communications are bidding for the Scandinavian business, which runs TV channels in Sweden and Norway.
ProSiebenSat.1 – Germany's biggest private broadcaster – was bought by KKR and Permira in 2006. The business owns Kanal 5 and Kanal 9 in Sweden and TV Norge, FEM, Vox and Max in Norway. It is said to have reviewed its north European business in order to reduce debt before selling its Belgian and Dutch units last year. ProSiebenSat.1 reportedly held onto the Nordic unit as offers were deemed too low.
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