Pershing Square Tontine Holdings Ltd. (PSTH) has informed Vivendi (Paris:VIV) that it intends to assign its legal rights and obligations to get 10% of the share cash of Common Songs Team (UMG) below the agreements declared on June 20, 2021 to financial investment money with important financial interests or management positions held by Mr. William Ackman. Vivendi has resolved to approve these types of request.
The ailment concerning the exercising by PSTH shareholders of their redemption legal rights is no longer applicable to the amended transaction, which will only be contingent on the acceptance of US regulatory authorizations.
The equity interest at some point obtained in UMG will now be comprised amongst 5 and 10%. If it ended up much less than 10%, Vivendi nevertheless intends to provide the shortfall to other buyers in advance of the distribution of 60% of the share funds of UMG to the shareholders of Vivendi scheduled to come about on September 21, 2021.
Due to the fact 2014, Vivendi has constructed a globe-course media, content and communications team. The Team owns major, strongly complementary property in audio (Common Songs Group), television and flicks (Canal+ Team), communications (Havas Group), publishing (Editis), journals (Prisma Media), video games (Gameloft), stay entertainment and ticketing (Vivendi Village). It also owns a global electronic written content distribution system (Dailymotion). Vivendi’s different businesses cohesively operate collectively as an built-in industrial team to produce higher price. Vivendi is fully commited to the ecosystem and aims at being carbon neutral by 2025. In addition, the Team will help setting up more open, inclusive and accountable societies by supporting varied and creative creative functions, advertising and marketing broader obtain to society, schooling and to its enterprises, and by growing awareness of 21(st) -century challenges and prospects. www.vivendi.com
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Resource: Vivendi Copyright Enterprise Wire 2021