TMG and KKR/Permira agree on TMG’s right to invest in the combined ProSiebenSat1 / SBS Broadcasting group

Telegraaf Media Groep N.V. (“TMG”) and Lavena Holding 4 GmbH (“Lavena”), an entity controlled by funds advised by Kohlberg Kravis Roberts & Co. (“KKR”) and funds advised by Permira (“Permira”), have reached agreements in which TMG is being granted an option to acquire a minority of the voting shares in ProSiebenSat1 Media AG (“ProSieben”), subject to the completion of the acquisition of the SBS group by ProSieben.  

TMG holds a 20% equity interest in SBS Broadcasting S.à.r.l. (“SBS”), the holding company of the SBS group. The remaining 80% of SBS is controlled by funds advised by KKR, funds advised by Permira and SBS-management. 
Lavena acquired the majority of the voting shares in ProSieben in March 2007. 
ProSieben announced earlier that it expects to finalize the proposed transaction with SBS in June/July 2007 after which further announcements regarding TMG’s position in the combined entity will follow.