ProSiebenSat.1 is a German mass media company that operates commercial televisions. The company said that its owners have not yet found buyers willing to acquire Der Spiegel, a German commercial broadcaster. This was according to one owner of ProSiebenSat.1.
The German company is owned by KKR and Permira who prepared an exit from the media group. This was through a placement of shares in the market or a stake sale to the media firm. Permira manager Goetz Maeuser said that a strategic buyer is currently not in sight. He added that a potential buyer would need to take a stake of more than 30% in the company. The said stake would amount more than Eur7 billion worth of market capitalization. Maeuser added that there are no German media firms that were readily available to make the purchase.
Representatives for Permira were not available to comment with the report. Spokesperson for KKR declined to give statements.
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