ProSiebenSat.1: sells media-for-equity participations.
(CercleFinance.com) - ProSiebenSat.
1's investment arm SevenVentures has sold a large part of the group's media-for-equity portfolio to US private equity firm Lexington Partners.
The sales proceeds amount to around 50 millions euros, the German media company said, adding that it has managed to double the value of its media and cash investments.
As part of the transaction, up to 16 minority participations of SevenVentures and other companies will be transferred to the new "Crosslantic Capital" fund, which will be controlled by Lexington Partners.
SevenVentures will remain involved as a strategic media partner, with a minority stake of approximately 24.5%.
SevenVentures was founded by ProSiebenSat.1 in 2009 and operates an investment model consisting of minority investments and media co-operations, where companies receive financial support, TV advertising time and other services in return for a share in equity or revenues.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
1's investment arm SevenVentures has sold a large part of the group's media-for-equity portfolio to US private equity firm Lexington Partners.
The sales proceeds amount to around 50 millions euros, the German media company said, adding that it has managed to double the value of its media and cash investments.
As part of the transaction, up to 16 minority participations of SevenVentures and other companies will be transferred to the new "Crosslantic Capital" fund, which will be controlled by Lexington Partners.
SevenVentures will remain involved as a strategic media partner, with a minority stake of approximately 24.5%.
SevenVentures was founded by ProSiebenSat.1 in 2009 and operates an investment model consisting of minority investments and media co-operations, where companies receive financial support, TV advertising time and other services in return for a share in equity or revenues.
Copyright (c) 2017 CercleFinance.com. All rights reserved.