PERSHING SQUARE HOLDINGS: Pershing Square Acquires Initial Stake in Universal Music Group
August 11 2021 - 2:00AM
UK Regulatory
TIDMPSH
Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) today
announced that Pershing Square Holdings Ltd., Pershing Square L.P.,
and Pershing Square International Ltd., through an affiliated
entity, have acquired 128,555,017 Ordinary Shares of Universal
Music Group (UMG), representing 7.1% of the company from Vivendi
S.E. for approximately $21.78 per share (or EUR18.58 per share at
today's exchange rate). The total cash consideration of $2.8
billion represents an equity value for UMG of EUR33 billion. PSH's
share of the cash consideration is approximately $2.5 billion.
PSH and its affiliates have the right to acquire up to an
additional 2.9% of UMG's Ordinary Shares at the same price per
share by September 9, 2021, which right Pershing Square intends to
exercise.
About Pershing Square Holdings, Ltd.
Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an
investment holding company structured as a closed-ended fund.
Category: (PSH:Investments)
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210810005930/en/
CONTACT: Media
Camarco
Ed Gascoigne-Pees / Julia Tilley +44 (0)20 3781 8339,
media-pershingsquareholdings@camarco.co.uk
SOURCE: Pershing Square Holdings, Ltd.
Copyright Business Wire 2021
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August 11, 2021 02:00 ET (06:00 GMT)
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