Vivendi sells Activision stake for $8.2 billion

July 26, 2013

(AP)—Vivendi SA is selling most of its majority stake in video game maker Activision Blizzard Inc. for $8.2 billion as the French conglomerate tries to strengthen its balance sheet.

In a statement Friday, Vivendi said that 429 million of its shares will be sold to Activision itself, which makes such games as "World of Warcraft." Another 172 million shares will be sold to a consortium of key investors including Activision's CEO Bobby Kotick and Co-chairman Brian Kelly.

With the sale, at $13.60 per share, Vivendi will reduce its holdings from 61.1 percent of Activision's common shares to 12 percent. The French company will continue to hold 83 million Activision shares after the sale, expected to close in September.

Vivendi has held a majority stake in Santa Monica, California-based Activision since 2008.

Vivendi , whose shares were up 1.35 percent to 16.20 euros in trading in Paris after the announcement, said in the statement that the sale "provides the group with greater financial flexibility and creates value for our shareholders."

Part of the cash will be used to strengthen the balance sheet and maintain its credit rating. Vivendi has been trying to restructure and sell off some businesses in its diverse conglomerate, and announced earlier this week that it's in talks to sell its stake in Maroc Telecom.

Explore further: Activision posts 3Q profit, backs 2009 outlook

Related Stories

Activision posts 3Q profit, backs 2009 outlook

November 5, 2009

(AP) -- It's been a rough year for the video game industry, but Activision Blizzard Inc. reported a profit for its third quarter because of a good response for games such as "Guitar Hero 5" and "World of Warcraft."

GE, Vivendi talks over NBC Universal stretch on

November 20, 2009

(AP) -- A deal for Comcast Corp. to buy a controlling stake in NBC Universal and create one of the most powerful media companies in the world is taking longer than expected as the current owners tussle over price.

Activision 1Q profit up, shoots past expectations

May 6, 2010

(AP) -- Continued strong sales of "Call of Duty" and a steady stream of revenue from "World of Warcraft" subscribers helped double Activision Blizzard Inc.'s first-quarter net income.

Activision targets EA in $400 million lawsuit

December 22, 2010

(AP) -- Activision Blizzard Inc., the video game maker behind the smash-hit shooter "Call of Duty: Black Ops," on Tuesday added a new target in its lawsuit against two former executives: rival Electronic Arts Inc. Activision ...

Recommended for you

Interactive tool lifts veil on the cost of nuclear energy

August 24, 2015

Despite the ever-changing landscape of energy economics, subject to the influence of new technologies and geopolitics, a new tool promises to root discussions about the cost of nuclear energy in hard evidence rather than ...

Smart home heating and cooling

August 28, 2015

Smart temperature-control devices—such as thermostats that learn and adjust to pre-programmed temperatures—are poised to increase comfort and save energy in homes.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.