22-06-2021, 07:42 PM
Vivendi and Pershing Square Tontine Holdings, Ltd. sign an agreement for the sale of 10% of UMG’s share capital
Vivendi
June 20, 2021
Vivendi is pleased to announce the signing of an agreement with Pershing Square Tontine Holdings, Ltd. (PSTH), led by William Ackman, for the sale of 10% of the share capital of Universal Music Group (UMG BV). The closing of this transaction is subject to the continued participation of PSTH shareholders after they are afforded customary redemption rights, and completion of U.S regulatory processes, and is expected to take place in the coming weeks, and at the latest by September 15, 2021.
After the 20% equity stake acquired by the Consortium led by the Tencent group, the arrival of major American investors provides further evidence of UMG’s global success and attractiveness.
As announced, the transaction is based on an enterprise value of €35 billion for 100% of UMG’s share capital.
More details in https://www.vivendi.com/en/press-release...e-capital/
Vivendi
June 20, 2021
Vivendi is pleased to announce the signing of an agreement with Pershing Square Tontine Holdings, Ltd. (PSTH), led by William Ackman, for the sale of 10% of the share capital of Universal Music Group (UMG BV). The closing of this transaction is subject to the continued participation of PSTH shareholders after they are afforded customary redemption rights, and completion of U.S regulatory processes, and is expected to take place in the coming weeks, and at the latest by September 15, 2021.
After the 20% equity stake acquired by the Consortium led by the Tencent group, the arrival of major American investors provides further evidence of UMG’s global success and attractiveness.
As announced, the transaction is based on an enterprise value of €35 billion for 100% of UMG’s share capital.
More details in https://www.vivendi.com/en/press-release...e-capital/
Specuvestor: Asset - Business - Structure.