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UNIVERSAL MUSIC GROUP ACQUIRES MINORITY STAKE IN CHORD MUSIC PARTNERS

Music label UMG to buy minority stake in Chord Music Partners for $240 million

(Reuters) - Universal Music Group on Tuesday said it would buy a 25.8% stake in Chord Music Partners for $240 million in a deal that will see investment company KKR exit from the capital of the music catalogue owner. KKR will sell its majority stak.

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