Universal Music Group sells 10% stake to Tencent-led Consortium

Tencent Holdings Ltd has today (December 31) informed its shareholders that a Tencent-led Consortium has signed a share purchase agreement with Vivendi to acquire 10% of Universal Music Group. The deal has been struck with UMG holding an enterprise value of €30bn ($33.6bn), meaning that over $3bn will land in Vivendi’s coffers as a result of the acquisition.

Source: Official: Universal Music Group to sell 10% stake, worth over $3bn, to Tencent-led Consortium

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