Vivendi increases Ubisoft stake to 17.7%, seeks board seat

Nieuws Algemeen Frankrijk 2 MAY 2016
Vivendi increases Ubisoft stake to 17.7%, seeks board seat

French media group Vivendi increased its stake in game maker Ubisoft to 17.7 percent of equity and over 15 percent of voting rights, Le Monde reports, citing a statement from financial markets authority AMF, which said that Vivendi plans to ask for representation on Ubisoft’s board. After the announcement, Ubisoft told AFP that it was not surprised that Vivendi raised its stake past the 15 percent threshold, referring to the company’s strategy of taking creeping control. It expects Vivendi to make an offensive during Ubisoft’s next general assembly. 

Vivendi has been raising its stakes in Ubisoft and sister company Gameloft for several months. It made a takeover bid for Gameloft after building a 30 percent stake in February, which the game maker challenged in the court, claiming it did not comply with regulation on takeover bids. 

Categories:

Algemeen

Companies:

Gameloft,  Vivendi,  Ubisoft

Countries:

Frankrijk

Tags:

Games, M&A buyouts & divestments

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