Vivendi has at long last sold its final shares in Ubisoft.
In March 2018, Vivendi ended its long-threatened takeover of the French game publisher by selling 27.3 per cent of its stake in the company. Now, one year later, Vivendi and Ubisoft have completely parted ways.
Reuters reports that Vivendi sold its remaining 5.9 per cent stake in Ubisoft for $485 million (429 million EUR), netting it a capital gain of $248.7 million.
Off the market
“Vivendi is no longer a Ubisoft shareholder and maintains its commitment to refrain from purchasing Ubisoft shares for a period of five years,” said Vivendi, in a statement.
“Vivendi, which already owns Gameloft, a global leader in mobile video games, confirms its intention to continue to strengthen its position in the video games sector."
For a while, it looked like Vivendi was poised to takeover Ubisoft. Back in April 2017, the firm stated its plans to buy out the publisher within that year.
Ubisoft long resisted the move, and its buyout of Vivendi shares last year was accompanied with news that it had entered into a strategic partnership with Chinese publishing giant Tencent,