KKR Acquires Stake in ProSiebenSat1 Media
KKR to Pay €1,350 per Share for 47% Stake
Transaction Values ProSiebenSat1 at €2.86 Billion
Frankfurt, Germany - Private equity firm KKR has agreed to acquire a 47% stake in ProSiebenSat1 Media SE (PSM.DE), a leading German media company, for €1,350 per share.
The transaction values ProSiebenSat1 at approximately €2.86 billion. KKR will acquire the stake from current shareholders, including Mediaset SpA (MS.MI) and Discovery, Inc. (DISCA). The deal is expected to close in the fourth quarter of 2023, subject to regulatory approvals.
KKR is a leading global investment firm with over $450 billion in assets under management. The firm has a history of investing in media and entertainment companies, including Univision Communications, Alibaba Pictures, and Sony Pictures Entertainment.
ProSiebenSat1 is a leading German media company with operations in 18 countries. The company owns a portfolio of free-to-air television channels, pay-TV channels, and digital platforms. ProSiebenSat1 also produces and distributes content for a wide range of platforms, including television, film, and online.
The acquisition of a stake in ProSiebenSat1 is a significant investment for KKR. The firm believes that the company is well-positioned to benefit from the ongoing growth of the media and entertainment industry.
"We are excited to partner with ProSiebenSat1, a leading player in the German media market," said Johannes Huth, managing director at KKR. "We believe the company has a strong track record of innovation and growth."
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