VIVEF Vivendi (PK)

   By Anne Steele 
 

Vivendi SE on Sunday reached an agreement for a 10% investment in Universal Music Group by William Ackman's Pershing Square Tontine Holdings, valuing the world's largest music company at about $40 billion.

In an email to UMG employees, CEO Lucian Grainge called the investment a "strong validation." The deal--previously reported on by the Wall Street Journal--follows a 20% stake investment by Chinese internet giant Tencent and comes days before Vivendi shareholders will vote on the potential listing of 60% of UMG shares on the Euronext Amsterdam stock exchange.

"The fact that we now have, in addition to Vivendi, two committed investors--the consortium led by Tencent, as well as PSTH--is as powerful an endorsement as one could imagine from the investment and technology communities," said Mr. Grainge.

Write to Anne Steele at anne.steele@wsj.com

(END) Dow Jones Newswires

June 20, 2021 19:59 ET (23:59 GMT)

Grafico Azioni Vivendi (PK) (USOTC:VIVEF)
Storico
Da Apr 2024 a Mag 2024

Grafico Azioni Vivendi (PK) (USOTC:VIVEF)
Storico
Da Mag 2023 a Mag 2024