VIVHY - Tencent exercises call option to acquire additional 10% equity interests in Universal Music Group

A consortium led by Tencent Holdings Limited (TCTZF) has exercised its call option to acquire an additional 10% equity stake in Universal Music Group from its parent company, Vivendi (VIVHY), based on an the enterprise valuation of €30B for 100% of UMG's share capital.Upon transaction closing in 1H21, Consortium's equity ownership in UMG will increase to 20%. Vivendi believes the Consortium will enable UMG to further develop its activities in Asia.Previously: Tencent group closes deal for 10% of Universal Music (March 31)

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Tencent exercises call option to acquire additional 10% equity interests in Universal Music Group