Primedia Inc., a media company majority-owned by KKR & Co., agreed to sell itself to an affiliate of TPG Capital, the buyout firm co-founded by David Bonderman, in a deal valued at about $525 million.
Primedia shareholders will receive $7.10 in cash for each outstanding common share, 62 percent more than the closing price at the end of last week, according to a statement today from the Norcross, Georgia-based company. KKR held a 58 percent stake as of January, according to data compiled by Bloomberg.
