Financial Times FT.com

KKR and Permira buy up debt in ProSiebenSat.1

By Martin Arnold and Anousha Sakoui in London

Published: September 11 2008 18:52 | Last updated: September 11 2008 18:59

Kohlberg Kravis Roberts and Permira, the private equity owners of ProSiebenSat.1 Media, have acquired chunks of debt in the struggling German television broadcaster.

The debt purchases – about €100m ($139.5m) by KKR’s credit arm and Permira’s debt subsidiary – are the latest examples of private equity groups buying debt in companies in which they already control the equity.

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