Vivendi has sold the last of its stock in Ubisoft, ending a years-long saga that at one time had the Assassin’s Creed developer concerned that a hostile takeover was imminent.
Vivendi has sold the last of its stock in Ubisoft, ending a years-long saga that at one time had the Assassin’s Creed developer concerned that a hostile takeover was imminent.
Reuters reports that Vivendi has sold its final 5.9 percent stake in Ubisoft for €429 million (~$485 million) amounting to a capital gain of €220 million (~$248.7 million) overall.
“Vivendi is no longer a Ubisoft shareholder and maintains its commitment to refrain from purchasing Ubisoft shares for a period of five years,” said a statement from the company. “Vivendi, which already owns Gameloft, a global leader in mobile video games, confirms its intention to continue to strengthen its position in the video games sector."
A little over a year ago, Vivendi abandoned its plans to grab up enough Ubisoft shares to pursue a hostile takeover of the company and instead laid the groundwork to sell all of its shares in the company.
Up until that point last March, the company had been nearing the 30 percent ownership mark and would’ve been required by French law to attempt a takeover. Ubisoft, namely the Guillemot family at the company’s head, had long voiced its opposition to those plans and said that the studio's independence was critical to its ongoing success.
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