The World: Malmo KKR and Permira purchase SBS Broadcasting

The private equity companies KKR and Permira have bought SBS Broadcasting, Europe's second-biggest commercial broadcasting group, for 2.1 billion.

The deal, which has been approved by the SBS board, is expected to be completed by November and values the company at 16 per cent more than its share price on 12 August, when reports of the deal first appeared.

Both equity companies are already involved in European media, as the US company KKR has shares in the satellite operator Panamsat, while the British company Permira is a shareholder in the German pay-TV company Premier and the satellite company Intelsat.