NautaDutilh assisted a consortium led by Tencent on the acquisition of a 10% stake in Universal Music Group, the world's largest music company, from Vivendi.
The consortium, led by Tencent and participated in by Tencent Music Entertainment and certain global financial investors, is set to acquire 10% of the share capital of UMG, based on an enterprise value of EUR 30 billion for 100% of UMG’s share capital. The consortium also has the option to acquire, on the same price basis, an additional amount of up to 10% of UMG’s share capital until January 15, 2021.
The transaction will be submitted to the competent regulatory authorities. The closing of the transaction is expected by the end of the first half of 2020.
NautaDutilh advised Tencent alongside Davis Polk & Wardwell. The NautaDutilh team consisted of David Viëtor, Jinne van Belle and Tamara Gang (Finance), Sybren de Beurs, Lieke van der Velden and Alex Draaisma (Corporate M&A), Wijnand Bossenbroek and Esther Schreiber (Corporate Notarial).