Czech investment firm PPF Group has initiated a public acquisition offer to ProSiebenSat.1 shareholders, proposing an all-cash deal of €7.00 per share.
The acceptance period commenced on 4 June and will conclude on 13 August 2025, following approval from Germany’s financial regulator, BaFin.
PPF, currently holding around 16% of ProSiebenSat.1’s shares, aims to increase its stake to just under 30%, thereby avoiding the mandatory takeover threshold under German law. The offer represents a 21% premium over the competing bid from Italian media company MFE-MediaForEurope, which is controlled by the Berlusconi family.
MFE, already the largest shareholder with a 30% stake, had earlier proposed a cash-and-stock offer of €5.70 per share to the shareholders of the German broadcaster. PPF’s higher all-cash offer intensifies the contest for influence over ProSiebenSat.1.
PPF has expressed its intention to seek proportionate representation on ProSiebenSat.1’s Supervisory Board, aiming to support the company’s current management and strategic direction. This contrasts with MFE’s approach, which has included calls for rapid divestment of non-core assets.
The ongoing rivalry between PPF and MFE underscores differing visions for ProSiebenSat.1’s future, with shareholders now presented with competing offers that could significantly influence the broadcaster’s strategic direction.
