Pursuits
Vivendi Sells Its Activision Stake, Netting $1.1 Billion
- Gamemaker's stock price almost doubled in the past year
- Chairman Bollore has recently focused on Europe investments
This article is for subscribers only.
Vivendi SA sold its remaining 5.7 percent stake in Activision Blizzard Inc., resulting in net proceeds of $1.1 billion, after shares of the U.S. maker of video games almost doubled in the past year.
Vivendi also unwound a hedge it had placed on the stake, allowing it to recover a cash deposit of $400 million, the Paris-based media and entertainment company said in a statement Friday. Vivendi sold the shares to a financial institution that it didn’t identify. The company didn’t specify the per-share price of the sale.