Vivendi Closes $3.3B Sale Of Universal Music Group Stake To China’s Tencent
Vivendi introduced on Tuesday that it has closed a €3B ($3.3B) deal to promote a 10% stake in Common Music Group to a consortium led by Chinese language know-how big Tencent. The deal, which was first introduced in December, values Common Music at €30B ($33B). Common operates labels answerable for artists together with The Beatles, Taylor
Author:Andrew StevensonReviewer:Johnathan MillerMar 31, 2020132.5K Shares2.7M Views
Vivendi introduced on Tuesday that it has closed a €3B ($3.3B) deal to promote a 10% stake in Common MusicGroup to a consortium led by Chinese language know-how big Tencent.
The deal, which was first introduced in December, values Common Music at €30B ($33B). Common operates labels answerable for artists together with The Beatles, Taylor Swift, Billie Eilish and Nirvana.
The settlement additionally offers Tencent and its companions the fitting to extend their stake to as a lot as 20% on the identical valuation till January 15, 2021. The 2 corporations additionally intend to enter right into a second settlement that offers Tencent an choice to accumulate a minority fairness stake in UMG’s Higher China enterprise.
French media conglomerate Vivendi mentioned: “Vivendi could be very pleased with the arrival of the Tencent-led consortium. It should allow UMG to additional develop within the Asian market. Now that this very important strategic operation has been accomplished, Vivendi will pursue the potential sale of extra minority pursuits in UMG, assisted by a number of banks which it has mandated.”
It added that Common Music is ready for an IPO by early 2023 on the newest.
Andrew Stevenson
Author
Meet Andrew Stevenson, a distinguished male writer whose passion and expertise encompass a wide array of topics, including global news, finance, health, celebrity culture, movies, and cryptocurrency. With a wealth of experience and a keen eye for detail, Andrew delivers engaging and informative content that resonates with readers from all walks of life. His insightful analysis of market trends, health breakthroughs, and the latest developments in entertainment captivates audiences, while his exploration of the burgeoning world of cryptocurrency offers invaluable insights into this rapidly evolving field. Andrew's commitment to excellence and his ability to distill complex information into accessible narratives make him a trusted source of knowledge and inspiration in today's dynamic media landscape. Join him on a journey of discovery as he illuminates the intersections of culture, finance, and technology, shaping the conversation one article at a time.
Johnathan Miller
Reviewer
Meet Johnathan Miller, an esteemed writer and analyst renowned for his expertise in global news, finance, health, and cryptocurrency. With a distinguished background in finance and a meticulous approach to research, Johnathan offers incisive insights into market dynamics and economic trends. His articles are characterized by a profound understanding of health-related issues and a clear articulation of the complexities surrounding cryptocurrency. Through his professional lens and commitment to excellence, Johnathan navigates the intricate webs of our interconnected world, delivering compelling analysis and thought-provoking commentary. Join him on a journey of discovery and enlightenment as he continues to shape discourse in these vital spheres.
Latest Articles
Popular Articles