The Limited Times

Now you can see non-English news...

Vivendi turns the page on Universal Music to reinvent itself in the media

2021-02-14T19:19:22.986Z

Vincent Bolloré's group strengthens its cash flow before major maneuvers. It is a large-scale operation. Vivendi, owner of the world music champion Universal Music Group (UMG) for twenty years, has decided to part with it. On Saturday, the French group announced its intention to create, at an extraordinary general meeting on March 29, a new company regrouping the shares of UMG. 60% of these shares will be redistributed to current Vivendi shareholders, before being float



It is a large-scale operation.

Vivendi, owner of the world music champion Universal Music Group (UMG) for twenty years, has decided to part with it.

On Saturday, the French group announced its intention to create, at an extraordinary general meeting on March 29, a new company regrouping the shares of UMG.

60% of these shares will be redistributed to current Vivendi shareholders, before being floated on the stock market.

At the end of this transaction, Vivendi will directly keep 20% of UMG's capital, the Chinese Tencent will keep its 20% and the Bolloré family, which controls Vivendi, will receive around 20% of UMG shares.

Incidentally, Vincent Bolloré passes part of UMG's value from Vivendi's pocket… directly to that of his family.

Read also:

The ogre appetite of Vincent Bolloré at the head of Vivendi

Today, Vivendi believes that Universal Music, the home of international artists such as Rihanna, Taylor Swift, Justin Bieber, Lady Gaga, also holder of Bob Dylan's catalog of songs, is a very well valued asset.

Indeed,

This article is for subscribers only.

You have 82% left to discover.

Subscribe: 1 € the first month

Can be canceled at any time

I ENJOY IT

Already subscribed?

Log in

Source: lefigaro

All life articles on 2021-02-14

You may like

Life/Entertain 2021-04-22T18:20:44.750Z

Trends 24h

Life/Entertain 2021-07-29T21:47:59.299Z

Latest

© Communities 2019 - Privacy