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Universal goes public in Amsterdam this year: Vivendi shareholders’ spin-off plan illuminated in green

MBW brought the news in mid-February that Vivendi plans to bring Universal Music Group to the public in the Netherlands in 2021.

The Paris-based company has now received the all-clear to continue with its plans.

Vivendi held an Extraordinary General Meeting in Paris today (March 29) and approved the plan to outsource 60% of Universal’s equity and start trading on Euronext Amsterdam by the end of 2021.

Under the chairmanship of Yannick Bolloré, 73.33% of Vivendi shareholders expressed their feelings at today’s meeting.

Vivendi shareholders with voting rights again approved two resolutions that covered the UMG spin-off plan with a fairly convincing margin: 99.98%.

According to a media statement by Vivendi following today’s vote, this means that an amendment has been passed that will allow Vivendi to now distribute dividends, interim dividends, reserves or bonuses on the delivery of real assets, including financials. .

As MBW reported last month, Vivendi stated in a press release published by Vivendi on February 13th that Vivendi saw potential interests of other investors after the recent sale of UMG shares to a consortium led by Tencent for an enterprise value of 30 billion euros had higher prices ”for shares in Universal.

A consortium led by Tencent Holdings completed the acquisition of a second 10% portion of UMG’s equity last month and increased its total stake to 20%.

This acquisition gave Universal Music Group a company valuation of 30 billion euros (currently around 36 billion US dollars).

Vivendi added in its investor notice published on February 13th that the Netherlands was a “country that was one of UMG’s historic homes”.

One reason for Vivendi to choose the Netherlands to go public, as the Financial Times pointed out last month, is that Amsterdam’s Euronext recently overtook the London Stock Exchange as Europe’s largest stock trading center, in part due to the Dutch scoop[ing] the business lost by Great Britain since Brexit ”.

Vivendi’s investor clearance last month added that “the transaction has received an initial positive response from the Tencent-led consortium”.

In a release from Exane BNPP last month, it was estimated that in the sale of 60% of the shares to Vivendi shareholders, a Universal Music Group after the IPO would be about 20% owned by the Tencent consortium, 20% owned owned by Vivendi and 16% directly owned by the company Bolloré Group (which owns around 27% of Vivendi) and 44% of other Vivendi shareholders.

“The unanimous vote for the two resolutions shows the unreserved support of our shareholders for our strategy.”

Arnaud de Puyfontaine, Vivendi

Arnaud de Puyfontaine, Chairman and CEO of Vivendi, said: “The unanimous vote for the two resolutions shows the unreserved support of our shareholders for our strategy.”Music business worldwide


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