Germany's ProSieben holds board meeting over General Atlantic deal, sources say [Yahoo! Finance]
PROSIEBENSAT1 MEDIA U/ADR (PBSFY)
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Source: Yahoo! Finance
General Atlantic a minority stake in the German broadcaster, two sources close to the matter told Reuters. General Atlantic is a co-investor in ProSieben's internet units - price comparison website Verivox, perfume e-retailer Flaconi, and online dating platform ParshipMeet Group - which the TV group is looking to sell. ProSieben said earlier this month it was working on a deal to buy the U.S. firm's minority stakes in ParshipMeet and in NuCom Group, the holding company housing Verivox and Flaconi, using as payment a mandatory convertible bond it would issue or possibly treasury shares. The deal would make ProSiebenSat.1 the sole owner of the digital assets, removing an obstacle to the proposed sales of Verivox and Flaconi, which General Atlantic has the power to block currently. ProSieben is considering an option it has to sidestep a shareholder vote in issuing the shares needed for the mandatory convertible bond, one of the sources said. It can do that through a 'contingent
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