KKR To Sell $255M Stake In Australia's Seven West Media

Law360, New York (May 21, 2013, 2:47 PM EDT) -- Private equity titan KKR & Co. LP has begun to sell off its entire AU$260 million (US$254.9 million) stake in Australia's Seven West Media Ltd., operator of the biggest free-to-air television network Down Under, Seven West announced in an exchange filing Tuesday.

KKR informed the Melbourne-based media company on Tuesday that the private equity firm plans to unload its entire 12 percent stake on the open market. The sell-off is due to Australian currency pressures and the long duration of KKR's investment in Seven West, according...
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