Tencent-led consortium buys additional 10% stake in Universal Music

Nieuws Breedband Wereld 1 FEB 2021
Tencent-led consortium buys additional 10% stake in Universal Music

A Tencent-led consortium has completed the acquisition of an additional 10 percent equity stake in Universal Music Group (UMG) from its parent company Vivendi, based on the same enterprise value of EUR 30 billion for 100 percent of UMG’s share capital as in the initial 10 percent acquisition that closed in March 2020. The consortium comprises the same members as those for the initial 10 percent investment in UMG, namely Tencent Music Entertainment and other financial co-investors.

Following the completion of the transaction, the consortium’s equity ownership in UMG has increased to 20 percent. Vivendi believes the consortium will enable UMG to develop its activities in Asia. 

Categories:

Internet

Companies:

Tencent,  Universal Music,  Vivendi

Regions:

Wereld

Tags:

Wholesale, M&A buyouts & divestments

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A Tencent-led consortium has completed the acquisition of a 10 percent equity stake in Universal Music Group from Vivendi, based on an enterprise value of EUR 30 billion for 100 percent of Universal Music Group's share capital. The initial agreement for this transaction was signed on 31 December 2019. The Consortium includes Tencent Music Entertainment Group and other financial co-investors.

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