Consortium Including Tencent Music Entertainment Group Completed Acquisition of Equity Interests in Universal Music Group
Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares (TME)
Last tencent music entertainment group american depositary shares, each representing two class a ordinary shares earnings: 3/16 04:15 pm
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Source: PR Newswire
SHENZHEN, China, March 31, 2020 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced that a consortium (the "Consortium") led by Tencent Holdings Limited (00700.HK) and participated by the Company (through one of its wholly-owned subsidiaries) and other co-investors has completed the acquisition of a 10% equity stake in Universal Music Group ("UMG") from its parent company, Vivendi SE (VIV.PA), at an enterprise value of EUR30 billion for 100% of UMG's share capital (the "Transaction"). The Consortium has the option to purchase up to an additional 10% equity stake in UMG at an equivalent enterprise valuation as in the Transaction until January 15, 2021. TME and UMG have also entered into a separate agreement as part of the Transaction which grants TME an option to acquire a minority equity stake in UMG's Greater China business within two years after the closing
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TME
Earnings
- 11/12/24 - Miss
TME
Sec Filings
- 11/12/24 - Form 6-K
- 10/15/24 - Form 6-K
- TME's page on the SEC website