KKR and Permira Acquire ProSiebenSat.1
Milbank Advises ProSiebenSat.1
Munich, 14 December 2006. The financial sponsors KKR and Permira have acquired Germany’s largest TV group, ProSiebenSat.1 Media AG. The purchase price for the participation of a little more than 50 % held by a group of financial investors around the U.S. investor Haim Saban amounts to approx. 3 billion Euro. The acquisition is subject to cartel approval.
Milbank Tweed advised ProSiebenSat.1 Media AG in various corporate and tax law matters in the context of this transaction. The Milbank team consisted of Dr. Norbert Rieger (partner, corporate and tax), Dr. Ulrike Friese-Dormann (partner, corporate), Dr. Rolf Füger (partner, tax) as well as the associates Dr. Christoph Rothenfußer (corporate), Dr. Thomas Kleinheisterkamp and Dr. Matthias Schell (tax) (all Munich).
The transactions was also advised by Linklaters under the lead of Dr. Rainer Traugott, for ProSiebenSat.1 Media AG as well as Freshfields under the lead of Dr. Andreas von Werder, for KKR and Permira.
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