Vivendi has closed the sale of 10% of its subsidiary Universal Music Group to a consortium led by the Chinese powerhouse Tencent.
The deal, which was signed three months ago, values UMG for €30 billion. As part of the agreement, the consortium – which includes Tencent Music Entertainment, as well as other financial co-investors — has the option to buy another stake of up to 10% at the same price by January 15 of 2021. “Vivendi is very happy with the arrival of the Tencent-led consortium.
It will enable UMG to further develop in the Asian market,” said the French media conglom. The company, which also owns Canal Plus Group, said it will now seek to sell additional minority interests in UMG with the help of several banks which it has
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.