TIDMPSH

Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) today announced that Pershing Square Holdings Ltd., Pershing Square L.P., and Pershing Square International Ltd., through an affiliated entity, have acquired 128,555,017 Ordinary Shares of Universal Music Group (UMG), representing 7.1% of the company from Vivendi S.E. for approximately $21.78 per share (or EUR18.58 per share at today's exchange rate). The total cash consideration of $2.8 billion represents an equity value for UMG of EUR33 billion. PSH's share of the cash consideration is approximately $2.5 billion.

PSH and its affiliates have the right to acquire up to an additional 2.9% of UMG's Ordinary Shares at the same price per share by September 9, 2021, which right Pershing Square intends to exercise.

About Pershing Square Holdings, Ltd.

Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an investment holding company structured as a closed-ended fund.

Category: (PSH:Investments)

View source version on businesswire.com: https://www.businesswire.com/news/home/20210810005930/en/

 
    CONTACT: Media

Camarco

Ed Gascoigne-Pees / Julia Tilley +44 (0)20 3781 8339,

media-pershingsquareholdings@camarco.co.uk

 
    SOURCE: Pershing Square Holdings, Ltd. 
Copyright Business Wire 2021

(END) Dow Jones Newswires

August 11, 2021 02:00 ET (06:00 GMT)

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