Baker & McKenzie Advises KKR on Sale of Seven Media Group Stake

Sydney, Australia, 22 February 2011 – Baker & McKenzie has advised Kohlberg Kravis Roberts & Co (KKR) on the sale of its stake in Seven Media Group (SMG) to West Australian Newspapers Holdings Limited for A$4.085 billion. The transaction was announced on 21 February 2011.

West Australian Newspapers Holdings Limited (ASX: WAN) is a Western Australian-based news and media group with activities including printing and publishing of The West Australian daily newspaper, regional newspapers across the State, commercial printing and radio communications.

SMG is one of Australia's leading media companies and is owned by Seven Group Holdings Limited (ASX: SVW), funds affiliated with KKR, mezzanine investors and members of management related to SMG.

The combined SMG and WAN group will be named Seven West Media (ASX: SWM) following the completion of the transaction.

Mark McNamara, partner in the Firm's Sydney office and head of the Firm's Global Private Equity practice, led the transaction with the assistance of Private Equity partner Julie Hutton, Corporate partner David Holland, Tax partner Tim Sherman and senior associate Alex Elser.

Speaking about the transaction, Mark McNamara said, "We advised KKR on the initial acquisition of the stake in SMG and have acted for them for a number of years. We are very pleased to advise on this very significant transaction for our client. The transaction drew on the skills of many lawyers from across Baker & McKenzie's private equity, corporate and tax practices and we are delighted to have brought this leading transaction to a successful outcome for our clients."