Vivendi sells its entire 27% share in Ubisoft

After a legal battle that has lasted many years, the struggle between Ubisoft and Vivendi has come to its conclusion. Vivendi has over the past few years bought an increasing amount of stock in Ubisoft to prepare for a hostile takeover, while Ubisoft's board of directors and the Guillemot family tried to desperately prevent it by issuing buybacks.

Now it would appear as if Ubisoft's endeavors have been successful, as Vivendi has agreed to sell its entire 27.3% stake in the company. Additionally, Ubisoft will purchase 9,090,909 of its own shares, and the Guillemot Brothers will agree to purchase 2.7% of capital shares, which raises their stake to 18.5%.

Lastly, Chinese Tencent has acquired 5% of Ubisoft's shares, and this will lead to a "strategic partnership that will significantly accelerate the reach of Ubisoft franchises in China."

Are you glad to hear about this news?