Vivendi Sells 19.9 Million Ubisoft Shares to Institutional Investors
March 21 2018 - 3:04AM
Dow Jones News
By Alberto Delclaux
French media group Vivendi SA (VIV.FR) said Wednesday that it
has sold 19.9 million shares in Ubisoft Entertainment SA (UBI.FR)
to institutional investors as part of its plan to sell its entire
stake for 2 billion euros ($2.46 billion).
Vivendi sold the shares in the videogame maker to institutional
investors for EUR66 a share, after strong demand prompted it to
increase its private-placement offering by 1.5 million shares, it
said.
The company also has agreements to sell 3 million shares to
Guillemot Brothers SE and 7.59 million shares to Ubisoft
itself.
Vivendi will no longer be a Ubisoft shareholder after the sale
of its 27.27% stake, and it has agreed not to purchase any Ubisoft
shares for five years. The company does, however, plan to
strengthen its position in the videogame sector, it said.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
March 21, 2018 03:49 ET (07:49 GMT)
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