Vivendi to Sell Stake in Ubisoft for EUR2 Billion
March 20 2018 - 2:12PM
Dow Jones News
By Marc Navarro Gonzalez
Vivendi SA (VIV.FR) will sell its stake in Ubisoft Entertainment
SA (UBI.FR) for 2 billion euros ($2.46 billion), the company said
Tuesday.
Vivendi said it will sell its 27.27% stake in video game
publisher Ubisoft at a price of EUR66 a share.
The French media conglomerate said that about 60% of the shares
will be sold to institutional buyers through a private placement by
way of an accelerated bookbuilding process. About 30% of the shares
will be sold to Ubisoft, while the remaining stake will be sold for
cash to holding company Guillemot Brothers SE.
After the completion of these transactions, Vivendi will no
longer be a Ubisoft shareholder and has agreed to refrain from
purchasing Ubisoft shares for a period of five years, the company
said.
Vivendi bought its stake in Ubisoft three years ago for EUR794
million.
Write to Marc Navarro Gonzalez at marc.navarro@dowjones.com
(END) Dow Jones Newswires
March 20, 2018 13:57 ET (17:57 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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