RTTNews | Dec 18, 2020 04:01AM EST

04:00 Friday, December 18, 2020 (RTTNews.com) - Tencent Holdings Limited (TCTZF.PK) announced that a Tencent-led consortium has exercised its call option to acquire an additional 10% equity stake in Universal Music Group from its parent company, Vivendi SE (VIV.L, VIVEF.PK). Upon the closing of this transaction, the Consortium's equity ownership in UMG will increase to 20%.

Tencent noted that this transaction is based on the same enterprise value of EUR 30 billion for 100% of UMG's share capital as in the initial acquisition that closed in March 2020.

The Consortium comprises the same members as that for the initial 10% investment in UMG, including Tencent Music Entertainment Group (TME) and other financial co-investors.

Read the original article on RTTNews ( https://www.rttnews.com/3154894/tencent-led-consortium-boosts-equity-ownership-in-umg-to-20-quick-facts.aspx)

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