Vivendi has sold 10% of the share capital of Universal Music Group (UMG) to a Tencent-led consortium based on an enterprise value of €30 billion for 100%. The consortium has an option to acquire, on the same valuation basis, an additional amount of up to 10% of UMG until January 15,2021.
The consortium is led by Tencent (00700.HK) and includes Tencent Music Entertainment (NYSE: TME) as well as two sovereign funds.
This transaction is complemented by a potential Joint-Venture between UMG and TME for Greater China, TME benefitting from an option to acquire a minority stake in this JV.
Hottinguer acted as the sole financial advisor to Vivendi and UMG for this transaction with Tencent and TME.
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