By Giulia Petroni
Vivendi SE stated Tuesday that Pershing Sq. Holdings Ltd. has agreed to purchase a further 2.9% stake in Common Music Group for a value of $1.15 billion.
The French media group stated the acquisition value relies on an enterprise worth of $35 billion for UMG’s full share capital.
The closing of the deal is scheduled to happen by Sept. 9.
Following the transaction, Pershing Sq. Holdings will personal 10% of UMG’s capital, based on Vivendi.
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