French media company Vivendi is selling its stake in Ubisoft for €2 billion (US$2.45 billion) to investors including Chinese tech titan Tencent, ending a potential takeover battle for the French video games maker.
Vivendi, which had been raising its holding in Ubisoft since 2015, has agreed to sell its 27.3% stake in the company which is best known for its Assassin’s Creed and South Park games.
Tencent Holdings Ltd, which dominates China’s mobile gaming market, is investing almost €370 million (US$455.1 million) for a 5% stake, while the Ontario Teachers’ Pension Plan is spending €250 million (US$307.5 million) for a 3.4% stake.
Ubisoft and Tencent will also form a strategic partnership to boost Ubisoft’s reach into China, the world’s largest video game market with estimated sales of US$32.5 billion last year, according to data from gaming consultancy Newzoo.
Vivendi’s stake-building since 2015 had prompted Ubisoft’s founding Guillemot family to court Canadian investors to fend off any hostile takeover.
Full Content: South China Morning Post
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI