Press release │ August 10th, 2021
Vivendi sold today 7.1% of UMG’s share capital to Pershing Square Holdings and affiliates, which are managed by Mr. William Ackman, for a price of USD 2.8 billion based on an enterprise value of €35 billion for 100% of UMG’s share capital.
▪ Vivendi as well as Pershing Square Holdings and affiliates entered into discussions on June 4, 2021, for the acquisition of 10% of Universal Music Group (UMG)’s share capital owned by Vivendi, before the distribution of 60% of UMG’s share capital to Vivendi’s shareholders and the listing of the company scheduled for September 21.
▪ Mr. Ackman has the right to acquire, by September 9, 2021, up to an additional 2.9% of UMG’s share capital through funds which he manages or in which he holds the majority of economic interest, based on the same valuation.
▪ Vivendi is very satisfied with the arrival at UMG of Mr. Ackman, a major American investor, providing once again evidence of the music company’s global success and attractiveness.
▪ Hottinguer Corporate Finance acted as financial investor to Vivendi with respect to this transaction.
▪ Hottinguer Corporate Finance previously advised Vivendi on its 20% stake sale to the Tencent-led Consortium
(10% in December 2020 and 10% in March 2021)
Advisors to Vivendi:
• HottinguerCorporateFinance–financial advisor (Mr.PierredeBousingen,Mr.DamienFaucher, Mr. Omar Essaid El Feydi)
• PwcTransactionServices–financial vendor duediligence (Mr.ErwanColder,Mr.Frédéric Spielrein, Mrs. Ghislaine Chevalier)
• Bompoints Avocats – legal advisor (Mr. Dominique Bompoint, Mrs. Caroline Bellot)
Contact:
• Banque Hottinguer
63, rue de la Victoire, 75009 Paris Phone: +33.1.40.23.25.00
E-mail: lgrange@hottinguer.com
• Hottinguer Corporate Finance
63, rue de la Victoire 75009 Paris,
France
Phone: +33.1.40.23.25.25 E-mail: hcf@hottinguer.com
44, rue de la République 69002 Lyon, France
Phone: +33.4.81.09.83.06
E-mail: xmaitre@hottinguer.com
Website: https://www.banque-hottinguer.com/
