Activision Blizzard has today announced it will buy back approximately $ 5.83 billion in shares (around 429 million Company shares) from Vivendi. In addition to this, a separate investment group led by Activision Blizzard CEO Bobby Kotick and co-chairman Brian Kelly will purchase a further 172 million Company shares for approximately $ 2.34 billion.
Once the transaction is complete Vivendi will no longer be the majority shareholder, with its stake reduced to 83 million shares (around 12% of total). Activision Blizzard will be an independent company with the majority of its shares owned by the public.
“These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi,” said Kotick 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.”
More Wii U Products