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KKR acquires 5% stake in ProSiebenSat.1, says company is undervalued

May 12, 2020 02.38 Europe/London By Jörn Krieger

US financial investor KKR has acquired a 5.2% stake in German commercial broadcaster ProSiebenSat.1.

KKR, which bought ProSiebenSat.1 with Permira in 2006 before selling it eight years later, said it was again backing the company because it offered value.

“We have decided to reinvest into ProSiebenSat.1 based on our belief that markets are currently undervaluing the company,” a KKR spokesman told Reuters. “We view this as a financial investment.”

ProSiebenSat.1 is now valued at less than half the sum paid by KKR and Permira 14 years ago, according to Reuters.

KKR follows the move by Italy’s Mediaset and Czech Media Invest (CMI) to invest in the troubled German media company which recently split up with its CEO Max Conze.

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Filed Under: Editor's Choice, Finance, Newsline Tagged With: CMI, Czech Media Invest, KKR, Mediaset, Permira, ProSiebenSat.1 Edited: 13 May 2020 12:45

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About Jörn Krieger

Jörn reports on the latest developments in Germany, Austria and Switzerland. Since 1992, he has been working as a freelance journalist, specialised in digital media, broadcast technology, convergence and new markets. He also takes up University lectureships, writes articles in specialist publications, and produces radio reports. Jörn is also a moderator of panel discussions at industry events such as ANGA COM, Medientage München and IFA Berlin.

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