LONDON (Reuters) – Singapore’s state investor GIC is part of the consortium led by China’s Tencent that’s buying up to 20% of Vivendi’s (VIV.PA) Universal Music Group (UMG), according to a source familiar with the deal.
In announcing the deal on Tuesday, Vivendi said the other members of the group were “global financial investors” but it did not identify them by name.
GIC did not immediately respond to requests for comment.
Reuters reported earlier this month that GIC and other sovereign wealth funds were in talks to participate in the deal to help Tencent finance one of the biggest investments by a Chinese company into a major European media business.
Reporting by Kane Wu in Hong Kong; writing by Josephine Mason in London; Editing by Keith Weir