Tencent-Led Consortium Exercises Call Option to Acquire Additional Equity Interests in Universal Music Group
Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares (TME)
Last tencent music entertainment group american depositary shares, each representing two class a ordinary shares earnings: 3/16 04:15 pm
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Source: PR Newswire
HONG KONG, Dec. 18, 2020 /PRNewswire/ -- Tencent Holdings Limited (00700.HK, "Tencent") announces today that a Tencent-led consortium (the "Consortium") has exercised its call option to acquire an additional 10% equity stake (the "Transaction") in Universal Music Group ("UMG") from its parent company, Vivendi SE (VIV.PA) ("Vivendi"), based on the same enterprise value of EUR30 billion for 100% of UMG's share capital as in the initial acquisition that closed in March 2020.The Consortium comprises the same members as that for the initial 10% investment in UMG, including Tencent Music Entertainment Group (NYSE: TME, "TME") and other financial co-investors. The Transaction is expected to close in the first half of 2021, subject to regulatory approvals. Upon the closing of the Transaction, the Consortium's equity ownership in UMG will increase to 20%. Vivendi has enjoyed the presence of Tencent and the other Consortium members as UMG's investors since March 2020 and is very happy about the
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TME
Earnings
- 3/19/24 - In-Line
TME
Sec Filings
- 4/18/24 - Form 6-K
- 4/18/24 - Form 20-F
- 4/15/24 - Form 6-K
- TME's page on the SEC website