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BOLLORÉ SE

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Ackman's Pershing Square unit confirms talks to buy 10% of Universal Music Group

06/04/2021 | 02:51am EDT

PARIS (Reuters) - Billionaire investor William Ackman's blank-check firm Pershing Square Tontine Holdings (PSTH) confirmed on Friday it was in talks to buy 10% of Universal Music Group, which is being spun-off by France's Vivendi, for around $4 billion.

Vivendi, controlled by French billionaire Vincent Bollore, is planning to cash in on its UMG crown jewel, the world's biggest music label with artists such as Taylor Swift, by spinning off the entity to existing shareholders.

"Universal Music Group is one of the greatest businesses in the world," said Bill Ackman, CEO of PSTH.

(Reporting by Sudip Kar-Gupta; editing by Jason Neely)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BOLLORÉ SE 1.22% 4.628 Real-time Quote.35.19%
PERSHING SQUARE HOLDINGS, LTD. 1.40% 36.15 Real-time Quote.1.86%
PERSHING SQUARE TONTINE HOLDINGS, LTD. -1.06% 20.585 Delayed Quote.-24.93%
THE HOWARD HUGHES CORPORATION 0.14% 90.92 Delayed Quote.14.99%
VIVENDI SE -0.14% 28.46 Real-time Quote.8.04%
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Financials
Sales 2021 25 923 M 30 486 M 30 486 M
Net income 2021 430 M 506 M 506 M
Net Debt 2021 6 245 M 7 345 M 7 345 M
P/E ratio 2021 32,3x
Yield 2021 1,31%
Capitalization 13 406 M 15 770 M 15 766 M
EV / Sales 2021 0,76x
EV / Sales 2022 0,74x
Nbr of Employees -
Free-Float 30,2%
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Number of Analysts 5
Last Close Price 4,57 €
Average target price 5,17 €
Spread / Average Target 13,1%
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Cyrille Bolloré Chairman & Co-Chief Executive Officer
Gilles Alix Co-Chief Executive Officer & Director
Cédric de Bailliencourt dit Courcol Chief Financial Officer & Director
Hubert Fabri Independent Director
Olivier Roussel Independent Director
Sector and Competitors
1st jan.Capi. (M$)
BOLLORÉ SE35.19%16 172
VIVENDI SE8.04%35 382
WARNER MUSIC GROUP CORP.-3.16%18 806
DOLBY LABORATORIES, INC.-0.27%10 142
BEIJING ENLIGHT MEDIA CO., LTD.-18.31%4 944
TOEI ANIMATION CO.,LTD.71.45%4 619