Vivendi announced today that it completed the sale of an additional 2.9% of Universal Music Group B.V. (UMG) to Pershing Square and its affiliates, as announced on August 31, 2021. The price of this sale is US$1.149 billion, corresponding to an enterprise value of €35 billion for 100% of UMG.
Considering the 7.1% stake it already owns, Pershing Square now holds 10% of UMG’s share capital.
As a reminder, Vivendi and Pershing Square had entered into discussions on June 4, 2021 to sell 10% of UMG owned by Vivendi to Pershing Square, prior to the distribution to Vivendi shareholders of 60% of UMG’s share capital and the listing of UMG on Euronext Amsterdam scheduled for September 21, 2021.
Since 2014, Vivendi has built a world-class media, content and communications group. The Group owns leading, strongly complementary assets in music (Universal Music Group), television and movies (Canal+ Group), communications (Havas Group), publishing (Editis), magazines (Prisma Media), video games (Gameloft), live entertainment and ticketing (Vivendi Village). It also owns a global digital content distribution platform (Dailymotion). Vivendi’s various businesses cohesively work together as an integrated industrial group to create greater value. Vivendi is committed to the environment and aims at being carbon neutral by 2025. In addition, the Group helps building more open, inclusive and responsible societies by supporting diverse and inventive creative works, promoting broader access to culture, education and to its businesses, and by increasing awareness of 21st-century challenges and opportunities. www.vivendi.com