Private equity firms KKR [KKR.UL] and Permira [PERM.UL] have sold shares in German satellite broadcaster ProSiebenSat1 (PSMG_p.DE) to raise about 193.6 million euros ($252.6 million), banks managing the sale said. Deutsche Bank, one of the managing banks, said on Thursday it had placed 8 million non-voting preferred shares in the company on behalf of Lavena Holding 5, an investment vehicle of KKR and Permira, at 24.20 euros per share. KKR and Permira had announced plans for the sale -- which amounts to about 3.7 percent of ProSieben's share capital -- late on Wednesday to pay down debt and to improve Lavena's liquidity. KKR and Permira said once the sale was completed, they would hold 53.0 percent of ProSieben's share capital as well as 88 percent of the common shares with voting rights.
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