- Vivendi Universal
Receives Approximately $8.1 Billion in Cash
- Proceeds to Be Used for Debt Repayment and General Corporate Purposes
Paris and New York,
December 21, 2001 - Vivendi Universal [NYSE: V; Paris Bourse: EX FP]
confirmed today that it successfully closed the sale of its Seagram Spirits
and Wine business to Diageo and Pernod Ricard for approximately $8.1 billion
in cash. The closing took place today in New York City.
Proceeds from the sale
of the Seagram Spirits and Wine business will be used by
Vivendi Universal for debt repayment and general corporate purposes.
About
Vivendi Universal:
Media and Communications and Environmental Services: The media and communications
business is divided into five business segments: Music, Publishing, TV and
Film, Telecoms and Internet. The Music business is conducted through Universal
Music Group, the world's leading music company, which develops, acquires,
manufactures, markets and distributes recorded music through wholly owned
operations or licensees in 63 countries around the world. Universal Music
Group's other businesses also include one of the world's largest music publishing
companies, which involves the acquisition of rights to, and licensing of,
musical compositions. The Publishing business is a worldwide content leader
in its core markets: education/literature, games, and healthcare information.
It provides content across multiple platforms. The TV and Film business
produces and distributes motion picture, television and home video/DVD products
worldwide, operates and has ownership interests in a number of cable and
pay-TV channels, engages in the licensing of merchandising and film property
rights and operates theme parks and retail stores around the world. The
Telecoms business provides a broad range of telecommunications services,
including mobile and fixed telephony, Internet access and data services
and transmission, principally in Europe. The Internet business manages the
strategic Internet initiatives and new online ventures for Vivendi Universal.
Utilizing advanced digital distribution technology, the Internet business
develops e-commerce, e-services and thematic portals that offer access to
the Internet via a variety of devices, including mobile phones, PDAs, interactive
TV and computers. Vivendi Environnement is a 63-percent owned subsidiary
of Vivendi Universal, which operates the environmental services business,
with operations around the globe.
