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EU completes swift review, approves ProSiebenSat.1 acquisition

February 25, 2007 08.59 Europe/London By Donald Koeleman

Following ProSiebenSat.1’s announcement of record annual results, Thursday, the European Commission delivered the expected icing on the cake. Allowing the German broadcasting group to be acquired by Kohlberg Kravis Roberts & Co. and Permira controlled Lavena Holding 4 GmbH. Also approving the subsequent merger with SBS Broadcasting. The EU launched its anti-trust investigation of the deal one month ago.

In December the investmentfunds agreed to acquire 50.5% of the broadcaster’s equity and an 88% voting interest, for 3.1 billion Euro, from Haim Saban controlled German Media Partners.

An all-cash public offer of 28.71 Euro per share to acquire the remaining publicly traded shares expires March 19.

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Filed Under: Newsline, Regulation Edited: 25 February 2007 08:59

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