Vivendi: Universal Music Group completes Parlophone sale for £487 million
Paris, 1st July, 2013
Vivendi: Universal Music Group completes
Parlophone sale for £487 million
Vivendi and Universal Music Group announced today the completion of the sale of Parlophone to Warner Music Group.
The transaction amounts to £487 million in cash.
This sale represents the final significant divestment requested by the European Commission for the EMI Recorded Music acquisition, bringing today the sale proceeds to a total net amount of £562 million in cash (approximately €700 million) for Vivendi.
Vivendi is one of the few multimedia groups in the world to operate across the entire digital value chain. It creates and publishes content for which it develops broadcast networks and distribution platforms.
Vivendi combines number of companies that are leaders in content and media: the French leader in pay-TV (Canal+ Group), the world leader in music (Universal Music Group) and the world leader in video games (Activision Blizzard). In telecommunications, Vivendi operates the French leader in alternative telecoms (SFR), the Moroccan leader in telecoms (Maroc Telecom) and the leading alternative broadband operator in Brazil (GVT).
In 2012, Vivendi achieved revenues of €29 billion and adjusted net income of €2.55 billion. The Group has over 58,000 employees.
Forward Looking Statements. This press release contains forward-looking statements with respect to Vivendi`s financial condition, results of operations, business, strategy and plans. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including regulatory and other approvals in connection with the transaction described in this press release as well as the risks described in the documents Vivendi has filed with the Autorité des Marchés Financiers (French securities regulator) and which are also available in English on our web site (www.vivendi.com). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or directly from Vivendi. The present forward-looking statements are made as of the date of this press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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