Feb 13 (Reuters) - Activist investor Independent Franchise Partners has taken a stake in Universal Music Group and owned 3.01% of the world's biggest music label as of Monday, a filing by Dutch
Independent Franchise Partners Acquires 3% Stake in Universal Music
Independent Franchise Partners' Investment in Universal Music
Feb 13 (Reuters) - Activist investor Independent Franchise Partners has taken a stake in Universal Music Group and owned 3.01% of the world's biggest music label as of Monday, a filing by Dutch financial watchdog showed on Friday.
Shareholder Composition
It will be the sixth largest shareholder in Universal Music Group, according to LSEG data.
Company Overview
Independent Franchise Partners also has a 5.37% stake in Vivendi, which together with its top shareholder, the Bolloré family, own more than 30% of Universal Music Group, LSEG data showed. The activist investor also holds a 5.86% stake in British real estate company Rightmove.
Founded in 2009, London-based Independent Franchise Partners says on its website its focus is on high-quality franchises with intangible assets that create a durable competitive advantage.
Universal Music Group did not immediately respond to a Reuters request for comment.
(Reporting by Alessandro Parodi, editing by Milla Nissi-Prussak)
