Bill Ackman France China Netherlands Indiana city Amsterdam Music Company Bill Ackman France China Netherlands Indiana city Amsterdam

Vivendi Confirms Talks To Sell Stake In Universal Music Valuing Company At $42B

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deadline.com

French media giant Vivendi has confirmed it is in talks to sell a 10% stake in Universal Music Group to hedge fund billionaire Bill Ackman’s Pershing Square Tontine Holdings in a deal that values the music company at €35 billion ($42B).The transaction is subject to approval from Vivendi shareholders.

It comes ahead of Vivendi’s plans to list Universal Music Group in Amsterdam, the Netherlands, in late September, when 60% of Universal’s shares will be distributed to Vivendi investors.If the Pershing Square Tontine Holdings is completed, the Special Purpose Acquisition Company (SPAC), will hold 10% of Universal Music Group, while Vivendi will also have a 10% holding.

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