Freshfields Bruckhaus Deringer and Milbank Tweed Hadley & McCloy have scooped lead roles on the €3.3bn (£2.2bn) sale of broadcaster SBS to German TV station ProSiebenSat.1 Media.

Freshfields is advising the sellers, private equity groups Kohlberg Kravis Roberts & Co (KKR) and Permira, with Frankfurt-based corporate partner Andreas von Werden spearheading the team for the City giant.