Freshfields represents Universal Music Group on its separation from Vivendi and initial listing on Euronext Amsterdam
Freshfields is representing Universal Music Group N.V. (“UMG”), a world leader in music-based entertainment, in its separation from Vivendi SE and the listing of its share capital on Euronext Amsterdam. As part of UMG’s admission to trading on Euronext Amsterdam, which occurred on September 21, 2021, Vivendi shall make a distribution in kind of close to 60% of the outstanding shares of UMG to Vivendi’s existing shareholders, with distribution expected to settle on September 23, 2021.
UMG is home to an extensive array of labels and businesses engaged in recorded music, music publishing, merchandising and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists, and produces and distributes the most critically acclaimed and commercially successful music in the world.
More details about the transaction can be found here.
The listing of UMG on Euronext Amsterdam follows the earlier announced intention by Vivendi to distribute up to 60% of UMG’s shares to Vivendi shareholders, on which Freshfields advised, in addition to advising on the acquisition by Pershing Square of 10% of UMG from Vivendi S.E. for approximately $4 billion. See our earlier press release here.
The Freshfields team is led by partners Sebastian L. Fain and Pamela Marcogliese in New York and Dirk-Jan Smit and Hanneke Rothbarth in Amsterdam, and includes support from corporate associates Zach Truscott, Mark Maarschalkerweerd, Maxine Lemstra, Lasse De Vooght and Nayoung Kwon and paralegal Iskander Ong in Amsterdam, Vinita Sithapathy, Khaair Morrison and Jack Liechtung in New York and Jennifer Brokamp and Dylan Blommaert in London. Corporate partners Sarah Solum in Silicon Valley and Andrea Basham in New York are also providing advice in connection with the transaction. Employment advice is being provided by partners Brechje Nollen in Amsterdam and Maj Vaseghi in Silicon Valley, with support from associates Babette Koning and Pam Hufman in Amsterdam. Partners Eelco Van Der Stok in Amsterdam and Claude Stansbury in Washington, DC are providing tax advice with support from senior associate David Mitchell in New York and associate Daan Van Schaik in Amsterdam. Counsel Richard Snyder is providing antitrust support from Washington, DC. Partner Michael Broeders and associates Hakan Gargili and Annemarie van der Does Vos in Amsterdam are providing financing support. Partner Menachem Kaplan in New York and counsel Brock Dahl in Washington, DC are providing IP support with senior associate Mark Egeler in Amsterdam.
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