Vivendi to Sell Further 2.9% Stake in Universal Music Group to Pershing Square
August 31 2021 - 2:55AM
Dow Jones News
By Giulia Petroni
Vivendi SE said Tuesday that Pershing Square Holdings Ltd. has
agreed to buy an additional 2.9% stake in Universal Music Group for
a price of $1.15 billion.
The French media group said the purchase price is based on an
enterprise value of $35 billion for UMG's full share capital.
The closing of the deal is scheduled to take place by Sept.
9.
Following the transaction, Pershing Square Holdings will own 10%
of UMG's capital, according to Vivendi.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
August 31, 2021 02:40 ET (06:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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