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General

Vivendi to proceed with alternative structure for UMG stake sale amid regulatory concerns

Monday 19 July 2021 | 12:52 CET | News
Vivendi said that it has agreed to a request by US hedge fund investor Bill Ackman to amend the structure of their recent deal for a 10 percent stake in Universal Music Group (UMG). Under the original plan, Ackman wanted to buy the stake using special purpose acquisition company PSTH. Instead, he will acquire the holding directly with his investment funds, which will replace PSTH. As reported by Bloomberg, this restructuring was forced by the intervention of the US regulator overseeing the deal.

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Categories: General
Companies: Universal Music / Vivendi
Countries: United States / World
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