A group of shareholders linked to Hedge Fund Pershing Square Billionaire Bill Ackman is offering about 2.7% of Universal Music Group’s circulation shares for sale.
Pershing Square Holdings, Pershing Square and Pershing Square International companies are offering about 50 million shares of the Taylor Swift label in private placement, according to the agreement seen by Bloomberg.
The company’s shares, listed in Amsterdam, are being offered between € 26.60 and € 27.90 each. In the ceiling of the price range, the sale can raise approximately € 1.4 billion ($ 1.5 billion).
Universal Music had already announced a plan to list actions in the US as part of an agreement with Pershing Square, as reported by the company in January. The agreement required Ackman Fund to sell $ 500 million in shares in connection with this listing, according to an investor post on platform X at the time.
Morgan Stanley is coordinating the sale of shares on the Amsterdam Stock Exchange, according to the operation’s documents.
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