Vivendi in Discussions With Pershing Square Tontine Holdings, Ltd. to Sell 10% of UMG's Share Capital
June 04 2021 - 3:26AM
Dow Jones News
Regulatory News:
Vivendi (Paris:VIV) and Pershing Square Tontine Holdings, Ltd.
(PSTH), represented by Chief Executive Officer Bill Ackman, have
entered into discussions for Vivendi to sell 10% of the Universal
Music Group (UMG BV) share capital to PSTH, prior to the
distribution of 60% of the UMG shares and its listing.
This transaction would be based on an enterprise value of EUR35
billion for 100% of the UMG BV share capital, subject to the
authorization given by Vivendi shareholders at the June 22, 2021
Shareholders' Meeting, to distribute 60% of the UMG share capital
and list the company.
In addition, the Pershing Square funds and their affiliates have
indicated that they may acquire additional economic exposure to UMG
by acquiring Vivendi securities and/or by acquiring UMG securities
following the distribution of UMG shares by Vivendi.
About Vivendi
Since 2014, Vivendi has built a world-class media, content and
communications group. The Group owns leading, strongly
complementary assets in music (Universal Music Group), television
and movies (Canal+ Group), communications (Havas Group), publishing
(Editis), magazines (Prisma Media), video games (Gameloft), live
entertainment and ticketing (Vivendi Village). It also owns a
global digital content distribution platform (Dailymotion).
Vivendi's various businesses cohesively work together as an
integrated industrial group to create greater value. Vivendi is
committed to the environment and aims at being carbon neutral by
2025. In addition, the Group helps building more open, inclusive
and responsible societies by supporting diverse and inventive
creative works, promoting broader access to culture, education and
to its businesses, and by increasing awareness of 21(st) -century
challenges and opportunities. www.vivendi.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210603006173/en/
CONTACT:
Vivendi
SOURCE: Vivendi
Copyright Business Wire 2021
(END) Dow Jones Newswires
June 04, 2021 03:13 ET (07:13 GMT)
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