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Vivendi Sells Remaining Ubisoft Shares After Failed Takeover Attempt

Mass media conglomerate Vivendi has sold the remaining part of its interest in video game developer Ubisoft, it announced on Tuesday.

The sale netted a capital gain of €220 million ($248.5 million USD). Vivendi said it’s no longer a Ubisoft shareholder and it’s maintaining its commitment to refrain from purchasing Ubisoft shares for a period of five years.

In total, the sale of Vivendi’s interest in Ubisoft represents an amount of €2 billion (about $2.3 billion USD) and a capital gain of €1.2 billion ($1.4 billion).

Vivendi acquired stakes in both Ubisoft and its sister company, mobile game publisher Gameloft, for a combined $181 million in 2015. It then entered a yearslong battle with Ubisoft’s founders as it attempted a seemingly hostile takeover of the company. It acquired a 27% stake in the “Assassin’s Creed” publisher, according to Polygon. That made it Ubisoft’s largest stakeholder, but it failed to gain seats on the board of directors.

The two companies eventually reached a deal in March 2018. Under the agreement, Vivendi promised to sell its stake in Ubisoft and not acquire more shares for a five-year period. It unloaded much of its stake at that time for €2 billion ($2.4 billion).

Ubisoft received two new long-term investors following the Vivendi deal: Chinese technology giant Tencent and Canada’s Ontario Teachers’ Pension Plan. They now own a 5% stake and 3.4% stake, respectively.

Although Vivendi no longer has a stake in Ubisoft, it still owns Gameloft and said it intends to strengthen its position in the video game sector.

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