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Universal Music Group to Launch IPO in 2022

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thewrap.com

Universal Music Group will launch in IPO in 2022, the conglomerate’s parent company, Vivendi, announced on Tuesday.UMG becomes the second major music company to announce its intentions to go public this year, following Warner Music Group, which launched its IPO in June.

UMG sold a 10% stake to China’s Tencent Holdings earlier this year. The Chinese company has an option to buy an additional 10%, for the same valuation, until Jan.

15, 2021.“Following the success of this significant strategic transaction, Vivendi is pursuing its plan to sell additional minority interests in UMG with the assistance of several mandated banks.

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