Vivendi, the owner of Universal Music Group and TV company Canal Plus, has sold its remaining stock (around 5.7%) in Activision Blizzard for a cool $1.1 billion to an unnamed financial institution. Besides, Vivendi also gained another $400 million by recovering a cash deposit in the transaction.
Back in 2014, Vivendi also sold for the roughly same amount of stock in Activision Blizzard but only for an estimated $866 million. So this time, it might be a perfect timing for Vivendi as the stock in Activision Blizzard had risen by 90% in the last year. "the decision to implement these transactions was taken in view of the evolution of the Activision Blizzard stock price," a Vivendi representative stated in the press release.
Activision Blizzard merged with Vivendi in 2007 as part of a $18.9B deal and now it's completely separated. It just acquired esport company MLG for 46 million.
Still, Vivendi shows interest in the video game industry with the recently acquisition of notable stock in French game companies Ubisoft and Gameloft.
Source: gamasutra, vivendi
Back in 2014, Vivendi also sold for the roughly same amount of stock in Activision Blizzard but only for an estimated $866 million. So this time, it might be a perfect timing for Vivendi as the stock in Activision Blizzard had risen by 90% in the last year. "the decision to implement these transactions was taken in view of the evolution of the Activision Blizzard stock price," a Vivendi representative stated in the press release.
Activision Blizzard merged with Vivendi in 2007 as part of a $18.9B deal and now it's completely separated. It just acquired esport company MLG for 46 million.
Still, Vivendi shows interest in the video game industry with the recently acquisition of notable stock in French game companies Ubisoft and Gameloft.
Source: gamasutra, vivendi