It’s been announced that Vivendi, the company that attempted a hostile takeover of Ubisoft for about 3 years, has now sold the entirety of its remaining stake in Ubisoft. The stake amounted to around 5.9% of the company, and brought it around $249 million in capital.
Vivendi, a French mass media conglomerate with fingers in films, TV, video games, book publishing and so much more, first started purchasing stake in Ubisoft back in 2015, which CEO Yves Guillemot said was “unsolicited and unwelcome”. Since then, Vivendi were slowly acquiring a bigger and bigger stake in Ubisoft, at their peak owning 27% of the company.
After months of tense negotiations, last year a deal was announced between Ubisoft and Tencent that allowed Tencent to purchase a bulk of Vivendi’s shares, while Ubisoft was able to buy back the rest. Vivendi also announced they would no longer purchase any shares in Ubisoft for at least the next five years, a promise reiterated this week.
Still, it’s not exactly bad news for Vivendi either, because their attempted takeover and the subsequent deal last year netted the company $2.45 billion, as reported by Venture Beat. Guess Ubisoft got their independence and Vivendi earned Scrooge McDuck levels of cash. Everyone’s a winner.