Activision buys back majority stake from Vivendi for $5.83 billion

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Activision

Call of Duty: Ghosts in action.

Activision is officially an independent company again now that it has made the move to purchase back $5.83 billion worth of shares from Vivendi. That amounts to approximately 429 million shares. Separately, a new investment group led by Activision chief executive Bobby Kotick and co-chairman Brian Kelly will purchase an additional 172 million shares from Vivendi for $2.34 billion.

Vivendi will retain 83 million shares or 12 percent of Activision, but the public now owns the majority of Activision’s stock.

“These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi,” Activision chief executive Bobby Kotick said in a statement. “We should emerge even stronger—an independent company with a best-in-class franchise portfolio and the focus and flexibility to drive long-term shareholder value and expand our leadership position as one of the world's most important entertainment companies.

“The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability.”

We are updating this story. Refresh for more.

Filed under: Games

Jeffrey Grubb 26 Jul, 2013
enclosure: http://venturebeat.files.wordpress.com/2013/06/cod_ghosts_federation_day_rappel.jpg?w=160

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Source: http://venturebeat.com/2013/07/25/activision-buys-back-majority-stake-from-vivendi-for-5-83-billion/
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