Vivendi S.A.'s (VIV.FR) Universal Music Group is looking to unload as much as $350 million of its assets in order to win European Commission approval of its purchase of rival EMI Group PLC, The New York Post reported Tuesday, citing people familiar with the situation.

The EU has set a Sept. 27 deadline to approve the deal. Expected to be put up for sale are global rights to Parlophone and Chrysalis as well as Europe-only rights to Mute, Ensign EMI Classics and Virgin Classics, the Post said. It said Universal has hired Goldman Sachs Group Inc. (GS) and Bank of America Corp. (BAC) as advisers and that Allen & Co. is no longer involved.

Full story at http://www.nypost.com/p/news/business/umg_hit_parade_6kBYCYUNucjp35XgLVD0WI

Write to nymonitoring@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Vivendi (PK) (USOTC:VIVHY)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Vivendi (PK) Charts.
Vivendi (PK) (USOTC:VIVHY)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Vivendi (PK) Charts.