Ubisoft Sells $135.7 Million in Shares to French Bank -- Market Talk
September 23 2016 - 2:52PM
Dow Jones News
14:22 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 purchase
3.63M shares in the videogame company. 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 14:37 ET (18:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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