Private equity firms KKR [KKR.UL] and Permira [PERM.UL] are planning to sell 8 million of their non-voting preferred shares in German broadcaster ProSiebenSat1 (PSMG_p.DE), they said late on Wednesday. Both investors said their joint vehicle Lavena Holding 5 GmbH would initiate the sale -- which amounts to about 3.7 percent of ProSieben's share capital -- via an accelerated bookbuilding to pay down debt and to improve Lavena's liquidity. Based on Wednesday's closing price of ProSieben preferred shares of 24.525 euros apiece, the value of the sale stands at 196 million euros ($255.7 million). 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. Sources told Reuters in November KKR and Permira were considering all options regarding their stake in the company. [ID:nLDE6BD15D] (Reporting by Soeren Amelang; Writing by Christoph Steitz) ($1=.7665 Euro)
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