SBS Shareholders Approve Proposed Acquisition by Permira and KKR
03 Outubro 2005 - 6:37AM
PR Newswire (US)
LUXEMBOURG, Oct. 3 /PRNewswire-FirstCall/ -- SBS Broadcasting S.A.
(Nasdaq: SBTV; Euronext Amsterdam N.V.: SBS) announces that the
proposed acquisition of SBS's business by an entity controlled by
funds advised by two leading private equity firms, Permira and KKR,
was approved by its shareholders at the extraordinary general
meeting of SBS's shareholders held today in Luxembourg. SBS's
shareholders also approved the related resolutions set out in the
Shareholders Circular that was distributed on September 1, 2005 in
relation to the transaction. SBS expects that the closing for the
transaction will occur in the second half of October 2005,
following the satisfaction or waiver of the remaining conditions
precedent included in the Sale and Purchase Agreement for the
transaction, and that the distribution to shareholders of sale
proceeds and related amounts and payments to option holders will
occur shortly thereafter. The remaining conditions precedent, which
are described in the Shareholders Circular, include receipt of
competition clearance from the European Commission. SBS plans to
announce when the remaining conditions precedent have been
satisfied or waived and the closing date has been established.
Forward-Looking Statements The statements in this press release
regarding the expected timing for the closing of the transaction,
the distribution of sale proceeds and related amounts to
shareholders, and payments to option holders are forward-looking.
Forward-looking statements are by their nature uncertain and the
actual timing for these events may differ. For information
regarding factors that could affect the closing of the transaction,
the distribution to shareholders and payments to option holders,
please see the Shareholders Circular, which is available on SBS's
website at http://www.sbsbroadcasting.com/. About SBS Broadcasting
S.A. SBS is a European commercial television and radio broadcasting
company with operations in Western and Central Europe. Countries
where SBS currently has broadcasting assets include: Belgium
(Flanders), Denmark, Finland, Greece, Hungary, The Netherlands,
Norway, Romania and Sweden. For further information visit:
http://www.sbsbroadcasting.com/ DATASOURCE: SBTV CONTACT: Investors
- Michael Smargiassi or Jon Lesko, both of Brainerd Communicators,
+1-212-986-6667; Press - Jeff Pryor of Pryor & Associates,
+1-818-338-3555, mobile: +1-818-730-0770, all for SBS Broadcasting
S.A. Web site: http://www.sbsbroadcasting.com/
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