Shearman & Sterling and Sullivan & Cromwell have secured lead roles on the upcoming €1.18bn (£813m) initial public offering (IPO) of German TV broadcaster Premiere – the country’s first major float of the year.

Premiere owners, UK private equity house Permira and German banks HVB and Bayerische Landes-bank, announced last week they were to offer 42 million shares with an expected pricing range of €24 (£16.60) to €28 (£19.30).