Vivendi to sell all Ubisoft shares after cancelled buyout

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

@DeekeTweak
Published Sat, Sep 29 2018 8:33 PM CDT   |   Updated Mon, Oct 19 2020 8:18 PM CDT

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

Vivendi to sell all Ubisoft shares after cancelled buyout | TweakTown.com

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 SOURCE:vivendi.com

Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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