Ubisoft Buys $135.7 Million in Shares from French Bank -- Market Talk
September 23 2016 - 3:20PM
Dow Jones News
14:50 ET - Ubisoft Entertainment (UBI.FR), facing a hostile
takeover threat from media conglomerate Vivendi (VIV.FR), says
France's Banque Publique d'Investissement has agreed to sell 3.63M
of the videogame company's shares back to it. Sold at EUR33.80
($37.98) a share, the deal amounts to EUR122.5M ($135.7M) and will
close in early November, Ubisoft says. The purchase comes days
before the maker of the "Assassin's Creed" series of videogames is
set to hold a shareholder meeting that could dramatically change
its trajectory. Vivendi, which has built up a stake of 23% in
Ubisoft, is seeking board representation and could choose to put
the matter to a vote. (sarah.needleman@wsj.com;
@saraheneedleman)
(END) Dow Jones Newswires
September 23, 2016 15:05 ET (19:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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