Kohlberg Kravis Roberts (KKR) and Permira have raised a total of €194 million through the stock sale of ProSiebenSat.1 Media, The Wall Street Journal reports. The 8 million shares were sold by the firm’s joint vehicle, Lavena Holding.

The proceeds from the transaction, after which KKR and Permira will hold about 53% of the share capital, will be used to repay debt and improve the liquidity of the holding company. The shares were placed by Deutsche Bank.

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