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Vivendi sells 10% stake in Universal Music to US hedge fund

Monday 21 June 2021 | 10:01 CET | News
Vivendi has signed an agreement with special purpose acquisition company PSTH, owned by US hedge fund investor Bill Ackman, for the sale of a 10 percent stake in Universal Music Group (UMG). The media group, which announced that it was in talks with PSTH earlier this month, has confirmed that the deal values UMG at EUR 35 billion. The closing of this transaction will take place by 15 September.

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Categories: Internet
Companies: Universal Music / Vivendi
Countries: United States / World
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