Tencent-Led Consortium, Vivendi Sign UMG Investment Agreement

(PRNewsfoto/Universal Music Group,Tencent)

Tencent Holdings Limited have announced that a Tencent-led consortium and Vivendi S.A. signed a share purchase agreement for the Consortium to acquire a 10% equity stake in Universal Music Group from Vivendi.

Until Jan. 15, 2021, the Consortium has the option to acquire up to an additional 10% equity stake in UMG at the same enterprise value. Prior to the closing of the Consortium-UMG Transaction, TME and UMG also intend to enter into a second agreement that grants TME an option to acquire a minority equity stake in UMG’s Greater China business.

Through this investment together with Vivendi, Tencent and TME will work to broaden the opportunities for artists and to enrich experiences for fans, further promoting a thriving music and entertainment industry.

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Lorie Hollabaugh

Hollabaugh, a staff writer at MusicRow magazine, has over 20 years of music business experience and has written for publications including American Profile, CMA Close Up, Nashville Arts And Entertainment, The Boot and Country Weekly. She has a Broadcast Journalism and Speech Communication degree from Texas Christian University, (go Horned Frogs), and welcomes your feedback or story ideas at lhollabaugh@musicrow.com.

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