3 bids expected for German TV broadcaster

From Bloomberg News

ProSiebenSat.1 Media, Germany's biggest broadcaster, is expected today to receive three competing bids valuing the company at about 6 billion euros ($7.9 billion), two people familiar with the discussions said.

Kohlberg Kravis Roberts & Co. and Permira Advisers are preparing a joint bid, as is a group including Apax Partners Worldwide and Goldman Sachs Group Inc., said two people with knowledge of the offers, who asked not to be identified before an announcement. Dogan Yayin Holding, Turkey's biggest media group, said Nov. 20 that it would offer to buy ProSiebenSat.1.

German Media Partners, a group including U.S. billionaire Haim Saban that owns 50.5% of the broadcaster, this year put the stake up for sale for a second time. Axel Springer, Europe's biggest newspaper publisher, dropped its plan to acquire Unterfoehring-based ProSiebenSat.1 after failing to win regulatory approval in January.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
54°