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Tuesday, November 12, 2013

KKR and Permira place 1.1 billion eur ProsiebenSat.1 stake, (NYSE: BAC)

ProsiebenSat.1 shareholders KKR and Permira on Tuesday said they would sell 35 million shares in the German free-to-air broadcaster, cutting their stake to around 17 percent from 33 percent.The shares are being placed with institutional investors at between 31.53 euros and 32.10 euros apiece, the offer document, which was seen by Reuters, shows.This values the placement at up to 1.12 billion euros ($1.5 billion).JPMorgan and Bank of America Merrill Lynch are in charge of the accelerated bookbuilding process, the offer document said.

Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 0.69% or $-0.1/share to $14.30. In the past year, the shares have traded as low as $8.92 and as high as $15.03. On average, 86782704 shares of BAC exchange hands on a given day and today's volume is recorded at 49291788.