Vivendi and Pershing Square Tontine Holdings, Ltd. Sign an Agreement for the Sale of 10% of UMG’s Share Capital
June 20 2021 - 2:48PM
Business Wire
Regulatory News:
Vivendi (Paris:VIV) is pleased to announce the signing of an
agreement with Pershing Square Tontine Holdings, Ltd. (PSTH), led
by William Ackman, for the sale of 10% of the share capital of
Universal Music Group (UMG BV). The closing of this transaction is
subject to the continued participation of PSTH shareholders after
they are afforded customary redemption rights, and completion of
U.S regulatory processes, and is expected to take place in the
coming weeks, and at the latest by September 15, 2021.
After the 20% equity stake acquired by the Consortium led by the
Tencent group, the arrival of major American investors provides
further evidence of UMG’s global success and attractiveness.
As announced, the transaction is based on an enterprise value of
€35 billion for 100% of UMG’s share capital.
It should be noted that Vivendi’s Management Board will propose,
at the June 22, 2021 Shareholders’ Meeting, the distribution of 60%
of UMG’s share capital to Vivendi shareholders and the listing of
the company on the Euronext Amsterdam stock exchange towards the
end of September.
About Vivendi
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
Important Disclaimers
Cautionary Note Regarding Forward-Looking Statements. This press
release contains forward-looking statements with respect to
Vivendi’s financial condition, results of operations, business,
strategy, plans and outlook. 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, but not limited to, the risks
related to antitrust and other regulatory approvals as well as any
other approvals which may be required in connection with certain
transactions and the risks described in the documents of the Group
filed by Vivendi with the Autorité des marchés financiers (the
French securities regulator), which are also available in English
on Vivendi’s website (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. Accordingly, we caution readers against
relying on such forward-looking statements. These forward-looking
statements are made as of the date of this press release. 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.
Unsponsored ADRs. Vivendi does not sponsor any American
Depositary Receipt (ADR) facility in respect of its shares. Any ADR
facility currently in existence is “unsponsored” and has no ties
whatsoever to Vivendi. Vivendi disclaims any liability in respect
of any such facility.
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