Vivendi launches vendor due diligence for Universal Music Group 50% share capital opening
15 FEB 2019
France-based media and telecom group Vivendi [EPA:VIV] released its 2018 results and announced the launch of vendor due diligence regarding the opening of up to 50% of the share capital of Universal Music Group (UMG). UMG reported an EBITDA of EUR 900m on revenues of EUR 6bn in 2018.
Edited Press Release:
The sale process for up to 50% of Universal Music Group’s share capital to one or more strategic partners is moving forward :
- corporate structure reorganization was completed at the end of 2018;
- launch of Vendor Due Diligence at the beginning of 2019; and
- meetings were held with the pre-selected banks. The final selection of the financial advisors that will assist Vivendi in finding the best partners for UMG should be completed in the coming weeks.
As previously announced, a floor price will be set for the entry of partners into UMG’s share capital.