Telegraaf Media Groep to sell its entire stake in ProSiebenSat.1

Reuters

FRANKFURT (Reuters) - Telegraaf Media Groep (AEX:TMG) is selling its entire stake in German free-to-air broadcaster ProSiebenSat.1 (PSMGn.DE) that it last valued at 230.8 million euros (194 million pounds) on its books, the Dutch media company said in a statement.

Telegraaf said the 13.13 million shares amounted to an interest of roughly 6 percent of the stock in ProSieben.

Deutsche Bank is acting as sole bookrunner, the company said.

Earlier this week KKK (NYS:KKR) and Permira (PERM.UL) sold a quarter of their stake, divesting 11 percent of the shares in the broadcaster in a placement that was worth roughly 800 million euros.

(Reporting by Christiaan Hetzner; Editing by Christoph Steitz)

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