Kohlberg Kravis Roberts (KKR) and Permira have announced that their jointly owned investment vehicle Lavena Holding 5 intends to sell a total of 8 million preference shares, representing approximately 3.7% of the total share capital of ProSiebenSat.1 Media.
The proceeds of this one-off share disposal will be used to repay debt and improve the cash position of the Lavena group, thus securing and strengthening its capital structure. The transaction will increase ProSiebenSat.1’s preference share free float and liquidity.
Following the transaction, KKR and Permira Funds will continue to hold approximately 53.0% of ProSiebenSat.1’s share capital and 88% of its voting rights. Lavena Holding 5 GmbH has agreed on a customary 90-day lock-up period.