Members of the supervisory board of ProSiebenSat.1 have decided to delay a possible agreement that might give U.S. private equity firm General Atlantic a minority interest in the German broadcaster, according to sources on Monday. General Atlantic is currently invested in some of ProSieben's online ventures, including Verivox, Flaconi, and ParshipMeet Group, all of which the television group intends to sell. Although ProSieben had previously announced intentions to purchase General Atlantic's minority stakes in ParshipMeet and NuCom Group with a convertible bond, the supervisory board has postponed its approval for the proposed deal and requested negotiations for revised terms before reconsidering it. The potential partnership with General Atlantic would allow ProSiebenSat.1 to become the exclusive owner of its digital assets, clearing the way for the potential sale of Verivox and Flaconi, presently hindered by General Atlantic's control. A key topic of concern for the board was the conditions of a "contingent" capital increase, which could result in a dilution of existing stakeholders' interests, including major investor MFE-MediaForEurope. Despite requests for comments, ProSieben, General Atlantic, and MFE have refrained from making any statements. MFE, backed by the Berlusconi family of Italy, has secured significant financing for a potential acquisition of ProSiebenSat.1 as part of an initiative to establish a pan-European broadcaster supported by advertising revenue.
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