NEW YORK (TheStreet) -- Vivendi (VIVHY) sold its nearly 13% stake in Beats Electronics LLC to Apple (AAPL - Get Report) for $404 million as part of the iPhone maker's takeover of the headphone company, Bloomberg reports.
The stake was held by the company's Universal Music Group.
The investment almost doubled in value from an estimate of $214 million in September, according to an analyst at Kepler Cheuvreux in Paris, Bloomberg noted..
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