Reuters
Ackman’s SPAC signs deal to buy 10% of Vivendi’s Universal
PARIS/BANGALORE (Reuters) -Billionaire investor William Ackman’s Pershing Square Tontine Holdings signed a deal to buy 10% of Universal Music Group (UMG), Taylor Swift’s label, for about $4 billion, the companies said on Sunday. “As announced, the transaction is based on an enterprise value of 35 billion euros ($41.55 billion) for 100% of UMG’s share capital,” Vivendi said. UMG, which is being spun-off by France’s Vivendi, will complete its planned Euronext Amsterdam listing in late September, the media group said.
