Electronic Arts Confirms It Sells Its Stake In Ubisoft
July 16 2010 - 11:03AM
Dow Jones News
U.S.-based video-game developer Electronic Arts Inc. (ERTS)
Friday said it sold its stake in French video-game maker Ubisoft
Entertainment SA (UBI.FR).
Terms weren't disclosed.
Ubisoft's biggest shareholder, Electronic Arts had a 14.8%
equity stake and 13.2% of the voting rights.
"Our strategic priorities have changed since we first bought
into Ubisoft," Electronic Arts said in a statement. "Recently, the
stake had become more of a financial investment than a strategic
one," the company added.
Electronic Arts didn't disclosed to whom it sold the shares.
At 1620 GMT, Ubisoft shares were trading at EUR0.10 a share
lower, or -1.5%, at EUR6.87, outperforming the SBF120 index, which
was down 2%.
-Ambroise Ecorcheville and Angeline Benoit, Dow Jones Newswires;
+33 (0)1 40 17 17 71; ambroise.ecorcheville@dowjones.com