Vivendi has revealed that it will sell its remaining shares in Ubisoft by March 5, 2019.
Ubisoft has spent years fighting off a putative hostile takeover by Vivendi: as recently as March 2018, Vivendi still owned 27.3 percent of the French publisher. But in October 2017, Ubisoft announced that it (primarily members of the Guillemot family which founded Ubisoft) would repurchase 4 million shares, equating to 10 percent of the company. Plus it acquired investment from the Ontario Teachers’ Public Equities Division and Chinese giant Tencent, at which point, Vivendi admitted defeat and announced it would sell its shares in Ubisoft.
Now, a deadline has been set for that sell-off, with Vivendi resolving to sell shares equating to 0.91 percent of Ubisoft by October 1, followed by divesting the remaining 5.74 of the company by March 5. Vivendi will at least have the consolation of banking around €500 million as a result of the sale.
Vivendi agreed that it will not purchase any shares in Ubisoft for the next five years. If you’re keen to keep up with the latest Ubisoft news, you might want to watch its website.