Vivendi To Sell All Remaining Shares Of Ubisoft After Dropped Buyout - Insight Trending

Vivendi To Sell All Remaining Shares Of Ubisoft After Dropped Buyout

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Vivendi To Sell All Remaining Shares Of Ubisoft After Dropped Buyout
Cover Photo By Gniewko93 [CC BY-SA 4.0 ], from Wikimedia Commons

Vivendi To Sell All Remaining Shares Of Ubisoft After Dropped Buyout

Somewhat back Vivendi wanted to buyout Ubisoft, and began purchasing up shares. Fortunately the corporation dropped the threatening takeover and In March 2018, Vivendi consented to sell the majority of its shares in Ubisoft, putting a conclusion to a two-year tussle amid which CEO Yves Guillemot battled like there's no tomorrow to stay free. Presently Vivendi has laid out a plan, which sees it selling the staying 7.5 million offers around 6.7% of Ubisoft's total shares by March 2019.

In a press release, Vivendi affirmed its promise to sell the rest of the Ubisoft shares it claims while expanding the last deadline for that deal to March 7, 2019

"As announced on March 20, 2018, Vivendi has sold forward its remaining interest in Ubisoft (i.e. 7,590,909 shares representing 6.7% of the share capital) for an amount of approximately €500 million, corresponding to a price of €66 per share.

This 6.7% interest will be sold by Vivendi to two financial institutions as follows: approximately 0.91% on October 1, 2018 as planned, and 5.74% deferred to March 5, 2019.

Vivendi has given an undertaking to Ubisoft to sell all the shares it owns by March 7, 2019 (settlement date). In addition, Vivendi maintains its March 2018 commitment to refrain from purchasing Ubisoft shares for a period of five years."

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