Independent Franchise Partners Takes $1.2BN+ Stake in UMG
The UK-based investor now owns 3% of the music company
London-based investor Independent Franchise Partners (IFP) has taken a 3.01% stake in Universal Music Group (UMG), as per Music Business Worldwide (MBW).
The details:
A filing published by the Dutch financial markets regulator, AFM, shows that IFP held 55,155,646 ordinary shares in UMG as of February 9.
MBW states this is the equivalent of 3.01% with a value of approximately USD $1.29 billion.
This makes it the sixth largest shareholder in UMG, as per Reuters.
Other investments:
IFP reportedly holds a 5.37% stake in Vivendi and a 5.86% stake in British property platform Rightmove.
It also holds a 9.1% stake in Warner Music Group’s Class A common stock, as per SEC filings.
It is yet to publicly divulge its intentions regarding UMG.
👋 Disclosures & Transparency Block
This story was written with information from Music Business Worldwide.
We covered it because it’s news of significant investment in the world’s biggest music company.
