Vivendi Says UMG IPO To Take Place On Amsterdam’s Euronext NV Exchange By The End Of 2021
PARIS, France (CelebrityAccess) — Vivendi, the corporate overlords of label giant Universal Music Group, announced that it is currently planning to launch its long-anticipated Initial Public Offering of UMG by the end of 2021.
According to a statement from Vivendi, the IPO will be held on the Euronext NV exchange in Amsterdam and the company said it has already received a favorable response from the plan from Tencent-led consortium which owns a substantial stake in UMG.
Vivendi estimates the value of UMG at 30 billion euros and currently owns 80% of the company, with the remaining shares controlled by the Tencent-led consortium.
Through its statement, Vivendi also revealed plans to distribute 60 percent of the company’s share capital to existing shareholders that will be