Loyens & Loeff advised Vivendi on its sale of 10% of UMG

Loyens & Loeff advised Vivendi on its sale of 10% of Universal Music Group to Pershing Square Tontine Holdings

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29-06-2021

Loyens & Loeff advised Vivendi on its sale of 10% of its shares in Universal Music Group B.V. (UMG) to Pershing Square Tontine Holdings (PSTH), a SPAC led by William Ackmann, for 3.5 billion euro. The closing of this transaction is conditional on continued participation of PSTH shareholders after they are afforded customary redemption rights, and completion of U.S regulatory processes.

Loyens & Loeff is also advising Vivendi on the expected distribution of 60% of UMG’s share capital to Vivendi shareholders and the listing of UMG on Euronext Amsterdam towards the end of September, subject to the relevant approvals.

The Loyens & Loeff team consists of Michel van Agt, Wouter Kros, Stijn Werdmölder, Dynah Dettingmeyer, Bastiaan Cornelisse, Rik Walschot and Jeannette van Rees (Corporate / M&A), Marcel Buur, Gerjan van Eijk and Sandrine Lekkerkerker (Tax).