Vivendi to sell all shares back to Ubisoft, will cease acquisition attempts
After months of what was thought to be certain acquisition of Ubisoft by Vivendi, it appears the two companies have come to an agreement. Vivendi will be selling back all of its shares, to which Ubisoft will be buying them each one, which is about 27% of Ubisoft's entire stock. In return, the Ontario Teacher's Pension Plan and Tencent will become investors in the company. Ontario Teachers' will buy €250 million worth of shares (3.4% of its capital) while Tencent will be acquiring 5.0% of capital. Each share will be bought at a locked rate of $66/per. These shares are also different than normal, as the contract states that neither company will get any representation on Ubisoft's Board of Directors.
In short, this means Vivendi will make a full exit from attempting to acquire Ubisoft, and are barred from attempting to invest in the company for the next five years. Meanwhile, two new companies will be heavily investing in Ubi, which will mutually benefit all parties, and Ubisoft will utilize this in order to secure a larger market in Asian territories. This also puts the Guillemot brothers back in control as having the most shares and in Ubisoft once more.
Source: GBAtemp Press Inbox
