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Vivendi Planning to Move Forward With UMG IPO This Year

The concept is to keep away from the so-called “conglomerate low cost,” underneath which an organization might be valued by the market as lower than the sum of its components — particularly by buyers in search of extra direct publicity to the music sector at a time when streaming is fueling development and optimism.

“This plan is the results of the joint efforts in recent times by the Vivendi and the Common Music Group, underneath the management of Sir Lucian Grainge, to additional the corporate’s place because the music trade’s undisputed chief,” mentioned Vivendi in a letter concerning the transfer that was shared internally at Common by Grainge, the corporate’s chairman and CEO. “Lately the profitable opening of UMG’s share capital to a global consortium led by Tencent has confirmed its attractiveness with strategic buyers.”

A consortium led by Tencent owns 20% of Common, and Vivendi now owns the remaining 80%. Based mostly on the final acquisition of shares, by the Tencent consortium in December, Common might be price as a lot as $37 billion.

“I couldn’t be prouder,” Grainge mentioned in his letter to the corporate. “Not solely is that this a validation of our technique, our groups, and our unprecedented document of success, it’s a pure evolution within the storied historical past of our firm that can allow our entrepreneurial and inventive tradition to proceed to soar.”

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