KKR, Permira fancy Freshfields for €3bn SBS sale
Freshfields Bruckhaus Deringer and Milbank Tweed Hadley & McCloy have scooped lead roles on the €3.3bn (£2.2bn) sale of broadcaster SBS to German TV station ProSiebenSat.1 Media. Freshfields is advising the sellers, private equity groups Kohlberg Kravis Roberts & Co (KKR) and Permira, with Frankfurt-based corporate partner Andreas von Werden spearheading the team for the City giant.
July 03, 2007 at 10:34 AM
1 minute read
Freshfields Bruckhaus Deringer and Milbank Tweed Hadley & McCloy have scooped lead roles on the €3.3bn (£2.2bn) sale of broadcaster SBS to German TV station ProSiebenSat.1 Media.
Freshfields is advising the sellers, private equity groups Kohlberg Kravis Roberts & Co (KKR) and Permira, with Frankfurt-based corporate partner Andreas von Werden spearheading the team for the City giant.
Von Werden is a long-term adviser to the private equity giants in relation to SBS, having advised the duo on their acquisition of a controlling stake in SBS in 2005.
The instruction is a boost for Freshfields as magic circle rival Clifford Chance has longstanding relationships with both KKR and Permira.
Frankfurt corporate partner Norbert Rieger headed the Milbank team acting for the buyer.
KKR's regular US adviser, Simpson Thatcher & Bartlett, also grabbed a slice of the action, advising on the financing for the consortium.
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