Vivendi announced today that it has completed the sale of 10% of the share capital of Universal Music Group (UMG) to a Tencent-led consortium

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.