Providence Takes €265M In Debt To Buy German TV Network

Law360, New York (July 5, 2012, 1:49 PM EDT) -- Media and communications-focused Providence Equity Partners LLC has agreed to purchase German TV channel Home Shopping Europe from AXA Private Equity in a deal backed by about €265 million ($331.52 million) in debt, a source familiar with the transaction said Thursday.

In connection with the deal, Providence fund Providence Equity Partners VI International LP, an affiliate of the firm's $12 billion sixth fund, will take control of HSE24 Beteiligungs GmbH, a 24-hour TV sales channel, leaving AXA with a minority stake.

Complete financial details were not...
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