Buried in Vivendi’s earnings report released today is the blockbuster news that its subsidiary Universal Music Group is planning an IPO within the next three years. Vivendi recently sold 10% of UMG to a consortium led by Tencent Holdings Ltd for $3.3 billion, a sum that values the company at a whopping $33 billion.
“Vivendi is very happy with the arrival of Tencent and its co-investors,” that segment of the announcement reads. “In addition, Vivendi’s Supervisory Board was informed of ongoing negotiations regarding the possible sale of additional minority interests, which negotiation engagement, based on a minimum valuation of €30 billion, was announced on December 31, 2019.
“Eight banks have been mandated by Vivendi to assist it in this matter. An initial public offering is currently planned for early 2023 at the latest.”
More to come…