German media company, ProSiebenSat.1 Media, is selling its Benelux TV and print operations to a consortium including Finland’s Sanoma for nearly €1.23 billion, The Wall Street Journal reports. The deal will not include the company’s Nordic assets that were initially also put up for sale. The assets being sold were previously part of SBS Broadcasting Group. The Dutch activities will be acquired by Sanoma and Talpa Media. Sanoma, which will finance the purchase of equity with €859 million in new debt, was advised by ING Corporate Finance and Nordea on the deal, adds Financial Times. Other companies interested in the assets included Hellman & Friedman and the Modern Times Group.
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