According to the latest report, a consortium led by Tencent decided to exercise the option on December 17, 2020, to acquire a 10% stake in Universal Music Group.
Delivery and payment will take place in the first half of 2021, subject to regulatory approval. It is reported that a group led by Tencent will further acquire a 10% stake in Universal Music.
In March of this year, Tencent Music Entertainment Group (TME) announced that its participating consortium led by Tencent Holdings has completed the acquisition of a 10% stake in Universal Music Group (UMG).
At that time, the transaction valued a 100% stake in UMG at 30 billion euros. Before January 15, 2021, the consortium can also choose to acquire up to 10% of UMG’s equity at the same corporate valuation in the above transaction.
TME also reached another agreement with UMG. TME was granted an option to acquire a minority stake in UMG’s Greater China business within two years from the date of completion of the above-mentioned transaction.
(Source)
