Technology content trusted in North America and globally since 1999
8,426 Reviews & Articles | 64,561 News Posts

Vivendi to sell all Ubisoft shares after cancelled buyout

Vivendi lays plans to sell off its remaining Ubisoft shares by 2019

By Derek Strickland from Sep 29, 2018 @ 20:33 CDT

Vivendi will soon shed itself of all controlling stake in Ubisoft.

vivendi-sell-ubisoft-shares-cancelled-buyout_4

A bit ago Vivendi wanted to buyout French games-maker Ubisoft, and started buying up shares en masse. Luckily (for both gamers and Ubisoft) the corporation cancelled the hostile takeover plans and agreed to relinquish control of all stake in the publisher. Now Vivendi outlines exact details of this plan, which sees it selling the remaining 7.5 million shares (about 6.7% of Ubisoft's total shares) by March 2019.

Vivendi will sell its shares for 500 million euros in the following ways: "This 6.7% interest will be sold by Vivendi to two financial institutions as follows: approximately 0.91% on October 1, 2018 as planned, and 5.74% deferred to March 5, 2019."

The company plans to refrain from purchasing Ubisoft stock for five years.

NEWS SOURCES:Vivendi.com


Related Tags