Universal expects significant income from EMI asset sales
BRUSSELS, Sept 21
BRUSSELS, Sept 21 (Reuters) - Universal Music expects to make significant income from the sale of a package of assets ordered by EU regulators to secure clearance for its $1.9 billion buy of EMI's recorded music business, the music group said on Friday.
Vivendi-owned Universal said the value of the assets amounted to 30 percent of EMI's global revenues or 10 percent of the combined entity's turnover.
"UMG expects that it will generate significant capital from the sales, given the robust interest from the market," Universal said in a statement.
The European Commission cleared the takeover earlier on Friday.