KKR-backed Seven West launches $450m share issue
KKR investee Seven West Media plans to raise approximately A$440 million ($450 million) through the sale of new shares in order to reduce debt levels. The Australian company, which owns the Seven free-to-air network, the country’s second-largest magazine publisher and a host of newspapers and websites, is struggling amid a weak advertising market.
KKR, which owns 11.8% of the company, and Kerry Stokes' Seven Group Holdings, which holds 33.2%, are expected to participate in the issue. However, the private equity firm will participate via the retail...
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