{"id":124762,"date":"2021-05-12T11:19:22","date_gmt":"2021-05-12T11:19:22","guid":{"rendered":"https:\/\/precoinnews.com\/?p=124762"},"modified":"2021-05-12T11:19:22","modified_gmt":"2021-05-12T11:19:22","slug":"universal-valued-at-40-billion-more-than-parent-vivendi-documents","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/universal-valued-at-40-billion-more-than-parent-vivendi-documents\/","title":{"rendered":"Universal valued at $40 billion, more than parent Vivendi -documents"},"content":{"rendered":"

PARIS (Reuters) – French media giant Vivendi said on Wednesday that the equity of its most prized asset, Universal Music Group, was worth 33 billion euros ($40 billion), or more than the market value of the parent company.<\/p>

FILE PHOTO: The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris March 14, 2014. REUTERS\/Charles Platiau<\/figcaption>

In documents released ahead of Vivendi\u2019s general meeting scheduled in June, the group went into the details of the prepared listing of Universal, which will see the group controlled by billionaire Vincent Bollore distribute 60% of Universal\u2019s capital to its current shareholders.<\/p>\n

The transaction is aimed at extracting the most value from Universal, the world\u2019s biggest music label and home to singers such as Lady Gaga and Taylor Swift, as the music industry rebounds from a long downturn thanks to streaming revenues, driven by music platforms Spotify and the like.<\/p>\n

Universal\u2019s 33 billion-euro valuation was determined by accounting firms PwC and EY. This means the 60% stake distributed to Vivendi\u2019s shareholders is worth 19.8 billion euros.<\/p>\n

Universal\u2019s parent company has a market value of 32 billion euros, according to Refinitiv data.<\/p>\n

At the end of the IPO process, Universal\u2019s three biggest shareholders would be Vivendi (20%), the Tencent-led consortium (20%) and Bollore (16%).<\/p>\n

In its documents, Vivendi said that Universal was drawing interest from potential investors and that it could sell some of its 20% stake to a \u201cstrategic partner\u201d ahead of the distribution of Universal\u2019s shares. It added that its intention was to keep at least a 10% stake in the company for a long period of time.<\/p>\n

There will be about 1.1 million Universal shares distributed to Vivendi\u2019s shareholders, according to the documents. Dividing the valuation corresponding to 60% of Universal by the exact number of shares gives a price per Universal share of 18.2 euros.<\/p>\n

The French conglomerate outlined plans in February to distribute 60% of Universal\u2019s capital to its current shareholders via a listing in Amsterdam, ending years of questions about Bollore\u2019s will to list the asset, whose operational earnings represent more than half of the all group.<\/p>\n

Vivendi also outlined the calendar of Universal\u2019s initial public offering (IPO), setting a Sept. 27 deadline for the listing of the shares in Amsterdam.<\/p>\n

The Paris-based group also disclosed the first-quarter financial earnings of Universal. Universal generated earnings before interest and income taxes (EBIT) of 322 million euros over the first three months of the year, up from 248 million euros the year before.<\/p>\n

($1 = 0.8243 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PARIS (Reuters) – French media giant Vivendi<\/p>\n","protected":false},"author":3,"featured_media":124761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nUniversal valued at $40 billion, more than parent Vivendi -documents - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/universal-valued-at-40-billion-more-than-parent-vivendi-documents\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Universal valued at $40 billion, more than parent Vivendi -documents - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"PARIS (Reuters) – French media giant Vivendi\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/universal-valued-at-40-billion-more-than-parent-vivendi-documents\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-12T11:19:22+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/05\/Universal-valued-at-40-billion-more-than-parent-Vivendi-documents.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/universal-valued-at-40-billion-more-than-parent-vivendi-documents\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/universal-valued-at-40-billion-more-than-parent-vivendi-documents\/\",\"name\":\"Universal valued at $40 billion, more than parent Vivendi -documents - 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