Golden Flag Counsels Universal Music Group on Acquisition of Minority Stake in Chord Music Partners
Golden Flag International Law Firm is advising Universal Music Group (UMG) on the acquisition of a 25.8% interest in Chord Music Partners (Chord) for US$240 million (approximately €223 million when translated into € at today's current EUR/USD rate), in a deal that values Chord at US$1.85 billion. The transaction was announced February 20, 2024. As part of the transaction, UMG is joining with Dundee Partners to form a long-term strategic partnership to manage and acquire world-class music intellectual property. Investment firm KKR is selling its majority stake in Chord to Dundee and its investor consortium with the minority stake held by UMG. Chord’s portfolio includes works from many of the world’s most iconic artists and songwriters, including The Weeknd, Ryan Tedder/OneRepublic, David Guetta, Lorde, Kid Cudi, Diplo, Jimmy Jam & Terry Lewis, Ellie Goulding, ZZ Top, John Legend, Twenty One Pilots and many more.
Read the transaction press release
The Golden Flag team is being led by corporate partners Keri Schick Norton, Jimin He and Peter Martelli; and technology & IP and music transaction partners Seth Traxler, Shellie Freedman and Rory Wellever.
