In the last few years, we’ve heard of conspiracy theories of Vivendi, a French conglomerate that was attempting to swallow video game publisher and developer Ubisoft. Vivendi’s aggressive ways led to a huge resistance formed by Ubisoft’s management.
Today, we’ve reached a point where Vivendi has decided to give up their plans on acquiring Ubisoft. Vivendi has announced they’re planning to sell off all of their Ubisoft shares (6.7%) to other parties by March 2019. In addition, Vivendi will refrain from purchasing Ubisoft shares for 5 years.
See the full press release below.
As announced on March 20, 2018, Vivendi has sold forward its remaining interest in Ubisoft (i.e. 7,590,909 shares representing 6.7% of the share capital) for an amount of approximately €500 million, corresponding to a price of €66 per share.
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.
Vivendi has given an undertaking to Ubisoft to sell all the shares it owns by March 7, 2019 (settlement date). In addition, Vivendi maintains its March 2018 commitment to refrain from purchasing Ubisoft shares for a period of five years.