Deals
KKR, Permira Sell ProSiebenSat.1 Stake for $1.7 Billion
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KKR & Co. and Permira Advisers LLP sold a 16.6 percent stake in ProSiebenSat.1 Media AG for about 1.26 billion euros ($1.7 billion) to complete their exit from the German broadcaster.
The private-equity firms sold 36.3 million shares at 34.75 euros apiece, according to an e-mailed statement from Bank of America Corp., which managed the sale with Deutsche Bank AG. Shares of Munich-based ProSiebenSat.1 rose 0.7 percent to 35.25 euros at 10:54 a.m. in Frankfurt.