Vivendi leaves the Activision Blizzard ship

by bold-lichterman

Between Vivendi and Activision Blizzard, it’s over. The French group has just sold all of the titles it still had in the American video game publisher. More specifically, 41.5 million Activision Blizzard shares – representing 5.7% of the capital – were sold for “a net proceeds of 1.1 billion dollars (approximately 1 billion euros)”. “The outcome of this transaction also allows Vivendi to recover a cash deposit of $ 0.4 billion”, specifies the Vinvent Bolloré group.

As a reminder, in 2007, Vivendi acquired a majority stake in Activision’s capital to bring it closer to its subsidiary Vivendi Games, which included Blizzard in particular. Today, Activision Blizzard has successful games in its catalog like Call of Duty or Guitar Hero. And to strengthen itself on the mobile, the publisher acquired King, the company that developed Candy Crush Saga, for $ 5.9 billion. Most recently, he got his hands on Major League Gaming, a professional esports league for some 40 million dollars.

“These decisions were made in light of the evolution of the Activision Blizzard share price. As a reminder, the hedging transaction was decided in June 2015 and concerned 100% of the dollar value of Activision Blizzard shares, ”explains Vivendi. Listed on the Nasdaq, Activision Blizzard is currently valued at over $ 25 billion.