VIVHY Vivendi SE (PK)

   By Marc Navarro Gonzalez 
 

Vivendi SA (VIV.FR) will sell its stake in Ubisoft Entertainment SA (UBI.FR) for 2 billion euros ($2.46 billion), the company said Tuesday.

Vivendi said it will sell its 27.27% stake in video game publisher Ubisoft at a price of EUR66 a share.

The French media conglomerate said that about 60% of the shares will be sold to institutional buyers through a private placement by way of an accelerated bookbuilding process. About 30% of the shares will be sold to Ubisoft, while the remaining stake will be sold for cash to holding company Guillemot Brothers SE.

After the completion of these transactions, Vivendi will no longer be a Ubisoft shareholder and has agreed to refrain from purchasing Ubisoft shares for a period of five years, the company said.

Vivendi bought its stake in Ubisoft three years ago for EUR794 million.

Write to Marc Navarro Gonzalez at marc.navarro@dowjones.com

(END) Dow Jones Newswires

March 20, 2018 13:57 ET (17:57 GMT)

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