Classics Vivendi engages in the last straight of the IPO of its nugget UMG

20:20  14 september  2021
20:20  14 september  2021 Source:   20minutes.fr

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Vivendi s'engage dans la dernière ligne droite de l'IPO de sa pépite UMG © Pavlo Gonchar / SOPA Images / Lightrocket / Getty Images Vivendi engages in the last straight line of the IPO of its nugget UMG Vivendi (+ 0.03% to 32,61 euros) is only a few days from the Universal Music Group (UMG) Stock Exchange, the nugget of its Specialized Empire in musical production.

With this in mind, the group of Vincent Bolloré published this morning the UMG IPO prospectus, which was approved by the Dutch financial market authority. It is learned that the technical reference technical price will be fixed on September 20, on the eve of the beginning of their trading on the market of Amsterdam, and that the valuation of UMG on the first day should be around the 33 billion euros. .

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The media giant also specifies in the document expecting UMG revenue growth of more than 10% on the 2021 exercise, when EBITDA should exceed 20%. Vivendi still plans to distribute 60% of the capital of the disk house to its shareholders. This means that a significant part of the capital will remain in the hands of the Bolloré group, the main shareholder of Vivendi with 28.9% of the Units. The French billionaire will hold 18% UMG, for an estimated value of 5.9 billion euros.

Introduction on September 21

Speculations are going well on the use that will do Vincent Bolloré of all this money. Rumors report a keen interest in Radio Europe 1, owned by its competitor Arnaud Lagardère. And the multiplication of the gestures of rapprochement between CNEWS, belonging to the CANAL + group, itself subsidiary of Vivendi, with Europe 1 did only assisted these rumors lately. Indeed, columnists from the radio station have been named within the continuous info chain to replace Eric Zemmour. And there is even a project of co-diffusion of the morning of Europe 1 live on CNEWS.

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Anyway, the UMG IPO September 21 will come to an end to a year of tractings and splitting its low-readable capital for many observers. Because in addition to redistributing 60% to its shareholders, Vivendi had yielded last December 10% of its subsidiary to a Consortium led by Chinese Tencent, before it sold 10% additional weeks. Same, more recently, with the American Fund Pershing Square, which has acquired 10% of units into two operations (7.1% + 2.9%).

Similarly, analysts continue to question the strategic aspect of such an introduction, while LUMG represents about two-thirds of Vivendi's turnover. Some see a way for Vincent Bolloré to strengthen his power over the group. However, they seem to agree on one thing: the fall of the title of the media giant from September 21st. Even Vivendi said expected.

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