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KKR and Tencent tudient des Offres pour Universal Music-sources



(Actualis avec prcisions et contexte)

by Pamela Barbaglia

LONDON, 27 Fvrier (Reuters) – Le groupe amricain
Spcialis in the KKR et le crackers
Chinese Tencent Music Entertainment has all its rivals available
south jusqu '50% of the capital of Universal Music Group, dont the
maison mre, Vivendi, understand cder une partie, a-t-on
appris de plusieurs sources.

Vincent Bollor, Vivendi's premier actionnaire with a
Fourth of the capital, it is in train of slectionner the banks
Charges for the purchase of a part of the capital of Universal
Music Group (UMG), where doctors say the dossier.

The banks devoted to mandates in seas in sight of one
The release of the cession processus in the first quarter,
where are you prcis

But from discussions you inform them from candidates
potentiels sont dj in cours, banks trying to value
the intrt pour le dossier.

Vivendi et KRR on refus de commenter ces informations;
Tencent is not available at the moment.

UMG is the world's number one march of the music in front
Sony Music Entertainment and Warner Music, among others
artists Lady Gaga, Taylor Swift, Drake and Kendrick Lamar.

Different analysts value the valuation of the groupe.

Daniel Kerven, analyst of JPMorgan, at a moment
dcrit the company comme "an actif unique sous-montis", in
voquant un contont global incontournable stratgique pour les
techies and those who do not succeed. "I love it
the intrinsic valuation of UMG 44 millions of euros.

Deutsche Bank chiffre pour sa part 29 millions of euros
in tablant sur une gnration of trsorerie available of 1.5
milliard hors intrts in 2023; Goldman Sachs rated UMG 35
milliards and Exane BNP Paribas 25 millions.

FROM POTENTIELS CANDIDATE CANDIDATES DANS THE "PRIVATE EQUITY"

In 2017, Arnaud de Puyfontaine, presided over by the director
of Vivendi, I have estimated that I would like to see more of
40 millions of euros. At first, Vivendi envisaged the
Possibility of introducing a Bourse in your branch, one
project abandonn depuis.

Tencent Music Entertainement, owned by the Chinese Chine des
Ten Ten Holdings, a dj concluded one
licensing agreement with Universal et souhaite renforcer leur
collaboration in the capital, where you explain the sources,
Alluded to the fact that the conclusion of an accord in rien
acquise.

Selon ces sources, the acteurs du secteur pourraient avoir
It's wrong to give us a satisfaisant faute de pouvoir accord
Most of the UMG capital is sure to influence you
stratgies.

Certain groups of capital-investissement, dont KKR, sont
You have a new partnership with Vincent
Bollor contributes financially to the development of UMG
The international mme is still unable to take control of
the company, where I explain the sources.

KKR to t in the pass actionnaire of the management soc
of BMIT musical droits, a lucrative investment maybe a
doubl sa mise reselling their parts are German partner
Bertelsmann in 2013.

It has been told by sources that other groups of
Capital-investment that KKR avaient manifesto read intrt
for UMG.

Last month it has 4% of the music specialist online
Spotify, a participation that the directors of Vivendi where
You prend a specific actif straticque and you are excluded from
cder

(Avec Arno Schuetze, Mathieu Rosemain et Gwenalle Barzic;
Marc Angrand pour le service franais)


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