Historical Stock Chart
1 Month : From Dec 2019 to Jan 2020
By Mauro Orru
Vivendi SA (VIV.FR) said Tuesday that it has signed an agreement to sell a 10% stake in its subsidiary Universal Music Group to a consortium led by Chinese internet-based conglomerate Tencent Holdings Ltd. (0700.HK).
The French media company said the deal was based on an enterprise value of 30 billion euros ($33.59 billion) for 100% of UMG's share capital and the transaction is expected to close by the end of the first half of 2020.
Vivendi said the Tencent-led consortium, which includes Tencent Music Entertainment as well as other "global financial investors," has the option to acquire an extra 10% of UMG's share capital before Jan. 15, 2021.
Write to Mauro Orru at firstname.lastname@example.org
(END) Dow Jones Newswires
December 31, 2019 03:43 ET (08:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.