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)

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