SBS Broadcasting Announces Release of Shareholders' Circular for Extraordinary
September 02 2005 - 2:01PM
PR Newswire (US)
General Meeting of Its Shareholders on October 3, 2005 to Consider
Acquisition By Permira and KKR LUXEMBOURG, Sept. 2
/PRNewswire-FirstCall/ -- SBS Broadcasting S.A. (Nasdaq: SBTV;
Euronext Amsterdam N.V.: SBS) announced today that it has commenced
distribution of the shareholders' circular for the Extraordinary
General Meeting of its shareholders that is scheduled to be held on
October 3, 2005 in Luxembourg. The purpose of the Extraordinary
General Meeting is to consider the previously announced proposed
acquisition of the business of SBS by an entity owned by funds
advised by two leading international private equity firms, Permira
and Kohlberg Kravis Roberts & Co. L.P. SBS is mailing the
shareholders' circular to shareholders of record on August 24,
2005, the record date for the Extraordinary General Meeting. The
shareholders' circular is also being made available today on SBS's
website, http://www.sbsbroadcasting.com/, will be available free of
charge at SBS's registered offices in Luxembourg and the offices of
Deutsche Bank AG, Amsterdam Branch, its paying agent in The
Netherlands for the purposes hereof, at the addresses set out
below, and will be furnished to the U.S. Securities and Exchange
Commission on a Report on Form 6-K. Subject to approval of the
transaction by the shareholders of SBS at the Extraordinary General
Meeting and satisfaction of the other conditions precedent to the
closing of the transaction set out in the Sale and Purchase
Agreement entered into by SBS in relation to the transaction, SBS
expects that the closing of the transaction will occur in late
October. As soon as practicable after the closing date for the
transaction has been set, SBS will announce the closing date, the
record date for the distribution to shareholders of the proceeds of
the transaction and certain other amounts, and the date on which
trading of SBS shares on the Nasdaq National Market and Euronext
Amsterdam will be suspended in order to allow trades on the Nasdaq
National Market and Euronext Amsterdam to settle prior to the
record date for the distribution. Forward-Looking Statements The
statements in this press release regarding the expected date of the
Extraordinary General Meeting and the timing for closing of the
transaction are forward-looking. The date for the Extraordinary
General Meeting and the timing for the closing of the transaction
could change. 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. SBS's registered offices are at 8-10 rue Mathias Hardt,
L-1717 Luxembourg. SBS's paying agent in The Netherlands for the
purposes hereof is Deutsche Bank AG, Amsterdam Branch, Herengracht
450-454, 1017 CA, The Netherlands. For further information visit:
http://www.sbsbroadcasting.com/ DATASOURCE: SBS Broadcasting S.A.
CONTACT: Investors: Michael Smargiassi, or Jon Lesko, both of
Brainerd Communicators, +1-212-986-6667; or Press: Jeff Pryor, of
Pryor Associates, +1-818-338-3555; or Catriona Cockburn, of
Citigate Dewe Rogerson, +44-207-282-2924 Web site:
http://www.sbsbroadcasting.com/
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