KKR and Permira to place 1.1 bln eur ProsiebenSat.1 stake
ProsiebenSat.1 shareholders KKR and Permira are selling a stake worth up to 1.12 billion euros ($1.5 billion) in the German free-to-air broadcaster, the offer document, which was seen by Reuters on Tuesday, shows.
Around 35 million shares are being placed with investors at a price range of between 31.53 euros to 32.10 euros ($42.37-$43.13) a share, the offer document shows.
J.P. Morgan and Bank of America Merrill Lynch are in charge of the accelerated bookbuilding process, the document said.
In September, the controlling owners of ProsiebenSat.1, KKR and Permira, already had sold a quarter of their stake in broadcaster. With the new placement, their combined stake would fall to 17 percent.