This transaction follows the decision by the Consortium, led by Tencent with the participation of Tencent Music Entertainment (NYSE: TME) and certain global financial investors, to exercise its option to acquire an additional 10% of UMG. As a result, the Tencent-led consortium now owns 20% of UMG.
Universal Music Group is the world’s leading music company, owning and operating businesses engaged in music publishing, recorded music, merchandising and audiovisual content. Vivendi is a worldwide operating French conglomerate owning powerful and complementary assets throughout the media value chain, such as in music (Universal Music Group), movies and series (Canal+ Group), publishing (Editis) and mobile games (Gameloft). Tencent is the leading online music entertainment platform in China, operating the country's highly popular and innovative music apps QQ Music, Kugou Music, Kuwo Music and WeSing.
Our legal and tax experts Michel van Agt, Wouter Kros, Jeannette van Rees, Stijn Werdmölder, Bastiaan Cornelisse, Gerco van Eck (Corporate / M&A), Marcel Buur, Gerjan van Eijk, (Tax), Maureen te Poel and Gina Hensen (Employment) advised Vivendi on this transaction.
