Vivendi: considers distribution of 60% of UMG's capital
(CercleFinance.com) - Vivendi announced over the weekend that its management board is now considering a distribution of 60% of the capital of Universal Music Group (UMG) to its shareholders, exclusively in kind, as an exceptional distribution.
UMG shares would apply to be listed on Euronext Amsterdam, in a country where one of UMG's historical headquarters was located. The proposed deal has received a preliminary positive response from the consortium led by Tencent, with which the listing will be considered.
An EGM will be convened on 29 March to allow for this distribution. In the event of a positive vote, the project could be completed by the end of 2021. Its Management Board will also propose an ordinary dividend of 0.60 euo per share for 2020 at the AGM on 22 June.
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UMG shares would apply to be listed on Euronext Amsterdam, in a country where one of UMG's historical headquarters was located. The proposed deal has received a preliminary positive response from the consortium led by Tencent, with which the listing will be considered.
An EGM will be convened on 29 March to allow for this distribution. In the event of a positive vote, the project could be completed by the end of 2021. Its Management Board will also propose an ordinary dividend of 0.60 euo per share for 2020 at the AGM on 22 June.
Copyright (c) 2021 CercleFinance.com. All rights reserved.