Brief: Affiliate Of Pershing Square Holdings To Buy Additional Stake In UMG

Pershing Square Holdings

31/08/2021 14:50

Aug 31 (Reuters) - Pershing Square Holdings Ltd  PSH.AS :
    * AFFILIATE OF PERSHING SQUARE HOLDINGS, LTD., PS VII
MASTER,  TO
ACQUIRE ADDITIONAL STAKE IN UNIVERSAL MUSIC GROUP
    * NOTIFIED VIVENDI S.E. THAT IT INTENDS TO EXERCISE ITS
OPTION TO
ACQUIRE 52.8 MILLION ORDINARY SHARES OF UNIVERSAL MUSIC GROUP
    * TOTAL CASH CONSIDERATION OF $1.1 BILLION REPRESENTS AN
EQUITY
VALUE FOR UMG OF EUR 33 BILLION
    * FOLLOWING PSVII'S PURCHASE, PERSHING SQUARE HOLDINGS AND
ITS
AFFILIATES WILL OWN 10% OF ORDINARY SHARES OF UMG
    * PSVII'S PURCHASE WILL NOT INCREASE PSH'S OWNERSHIP OF UMG

Source text for Eikon:  ID:nBwcg6F4Ma 
Further company coverage:  PSH.AS 

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