Universal Seeks $350 Million Asset Sale for EMI Deal Approval-NY Post
12 September 2012 - 12:03AM
Dow Jones News
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
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