Vivendi sells 19.87m shares in Ubisoft at EUR 66 per share
21 MAR 2018
Vivendi [Paris:VIV] announced yesterday that it had entered into agreements to sell for EUR 2bn the interest it had acquired in Ubisoft [Paris:UNI] for EUR 794m, representing 27.27% of the company’s share capital.
Out of the 30,489,300 shares owned by Vivendi, 19,868,088 shares were sold to qualified institutional investors at a price of EUR 66 per share through a private placement by way of an accelerated bookbuilding process following a 1,500,000 share increase in the private placement offering in response to the strong demand from institutional buyers.
The completion of this offering allows Vivendi to sell, at the same price per share and in two tranches, the balance of its remaining interest as follows:
Out of the 30,489,300 shares owned by Vivendi, 19,868,088 shares were sold to qualified institutional investors at a price of EUR 66 per share through a private placement by way of an accelerated bookbuilding process following a 1,500,000 share increase in the private placement offering in response to the strong demand from institutional buyers.
The completion of this offering allows Vivendi to sell, at the same price per share and in two tranches, the balance of its remaining interest as follows:
- 3,030,303 shares to Guillemot Brothers SE for cash; and
- 7,590,909 shares to Ubisoft at the end of the six-month term of the forward sale commitments entered into by Crédit Agricole CIB for the benefit of Ubisoft so that it may buyback and cancel these shares.
The settlement of the private placement and the sale to Guillemot Brothers is to take place on March 23, 2018.
Upon completion of these transactions, Vivendi will no longer be a Ubisoft shareholder and has agreed to refrain from purchasing Ubisoft shares for a period of five years.
Bookbuilding has been managed by J.P. Morgan Securities plc as Sole Global Coordinator and Joint Bookrunner, and by Crédit Agricole CIB as Joint Bookrunner.
Link to original source.
Upon completion of these transactions, Vivendi will no longer be a Ubisoft shareholder and has agreed to refrain from purchasing Ubisoft shares for a period of five years.
Bookbuilding has been managed by J.P. Morgan Securities plc as Sole Global Coordinator and Joint Bookrunner, and by Crédit Agricole CIB as Joint Bookrunner.
Link to original source.