(Bloomberg) --
Vivendi said it will examine listing the shares of Universal Music Group by the end of the year on the regulated market of Euronext NV in Amsterdam, according to statement.
- Vivendi’s chairman of the management Board set a minimum target of 30 billion euros for UMG’s enterprise value
- Tencent-led consortium now holds 20% of UMG share capital, as well as interests expressed by other investors at potentially higher prices
Management board to consider a distribution of 60% of
UMG’s share capital to Vivendi shareholders
- Vivendi extraordinary shareholders’ meeting will be called for March 29 to modify the company’s by-laws and make this distribution possible
- NOTE: In December, Tencent Group Buys Further 10% of Vivendi’s Universal Music
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