You are here:
01 February 2021 / deal

Loyens & Loeff advised Vivendi on the sale of an additional 10% stake in Universal Music Group

Loyens & Loeff advised Vivendi on the sale of an additional 10% of the share capital of Universal Music Group (UMG) to a Tencent-led consortium, based on an enterprise value of €30 billion for 100% of UMG’s share capital.

This transaction follows the decision by the Consortium, led by Tencent with the participation of Tencent Music Entertainment (NYSE: TME) and certain global financial investors, to exercise its option to acquire an additional 10% of UMG. As a result, the Tencent-led consortium now owns 20% of UMG.

Universal Music Group is the world’s leading music company, owning and operating businesses engaged in music publishing, recorded music, merchandising and audiovisual content. Vivendi is a worldwide operating French conglomerate owning powerful and complementary assets throughout the media value chain, such as in music (Universal Music Group), movies and series (Canal+ Group), publishing (Editis) and mobile games (Gameloft). Tencent is the leading online music entertainment platform in China, operating the country's highly popular and innovative music apps QQ Music, Kugou Music, Kuwo Music and WeSing.

Our legal and tax experts Michel van Agt, Wouter Kros, Jeannette van Rees, Stijn Werdmölder, Bastiaan Cornelisse, Gerco van Eck (Corporate / M&A), Marcel Buur, Gerjan van Eijk, (Tax), Maureen te Poel and Gina Hensen (Employment) advised Vivendi on this transaction.

Prinsjesdag Tax 15102021

Second bill of amendment to the Tax Plan 2022

Increase headline corporate income tax rate and tightening of the earnings stripping rules. read more

Legislative proposal on a more balanced men-women ratio adopted

On 28 September 2021, a legislative proposal to improve the men-women ratio in boards was adopted by the Dutch Senate. read more

Agreement on Pillar One and Pillar Two global tax reform

On 8 October 2021, 136 out of 140 members of the OECD/G20 Inclusive Framework officially agreed on... read more