Permira, KKR purchase SBS Broadcasting

SBS Broadcasting has entered into an agreement to be acquired by Permira and affiliates of Kohlberg Kravis Roberts & Co. (KKR) in a transaction valuing SBS at approximately $2.5 billion. SBS' business activities will be continued under ownership of Permira and KKR.

SBS is a European commercial television and radio broadcasting company with operations in Western and Central Europe.

The transaction is subject to competition clearance must be approved prior to closing by two-thirds of the votes cast by SBS shareholders at an extraordinary meeting, which is expected to take place in October 2005.

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