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Bill Ackman’s Pershing Square Fund To De-List From Amsterdam Stock Exchange
Pershing Square Holdings, majority owned by billionaire investor Bill Ackman, is set to leave the Netherlands, a move Ackman wants for UMG as well.
Billionaire hedge fund investor and Universal Music Group director Bill Ackman is a step closer to de-listing his Pershing Square Holdings from the Euronext Amsterdam exchange, a move that Ackman — whose Pershing Square company has owned around 10% of stock in the Universal Music Group since 2021 — has advocated for UMG to do, too. The Euronext Amsterdam approved a plan for Pershing Square Holdings to de-list, with the closed-end fund’s last day of trading to be Jan. 30. In a separate announcement on Thursday, Pershing Square said it distributed around 47 million shares of Universal Music Group stock, or roughly 2.6% of its overall stake, to investors as part of a planned wind-down of one of the funds Pershing Square initially used to purchase UMG shares from Vivendi in September 2021.
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