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7h ago

MFE Seizes Control of ProSiebenSat.1 as PPF Tenders 15.7% Stake

PPF's exit gives MFE majority control of ProSiebenSat.1, clearing the path for integration across its European network.

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Overview

  • MFE now holds more than 60% of ProSiebenSat.1 after PPF contributed its roughly 15.7% stake, with market estimates placing ownership around 62–63%.
  • The public offer remains open until 1 September, and analysts estimate MFE could end up with about 70–75% of the company.
  • MFE’s bid offers €4.47 in cash plus 1.3 MFE A shares per ProSiebenSat.1 share after the stock component was increased in late July.
  • Financing is supported by a €3.4 billion credit line, with immediate cash outlays of about €335–340 million and a potential total near €470 million; ProSiebenSat.1 carries roughly €2.1 billion of gross debt.
  • The combined group is projected to exceed €6.8 billion in revenue with about €1.37 billion in EBITDA and more than 12,000 employees, with reported synergies and regulatory approvals paired with commitments on editorial independence and job protections in Bavaria.