CC image courtesy of Xtrodination.
French multimedia giant Vivendi is selling off video game publisher Activision Blizzard in a US$5.83 billion deal.
Activision Blizzard is buying itself back from Vivendi control with the purchase of 429 million shares, although Vivendi will retain a 12 per cent stake in the games company responsible for products including Call of Duty and World of Warcraft.
Vivendi is currently going through a substantial restructuring process, which includes selling off a number of its interests.
The most high-profile ongoing sale is its attempts to offload its 53 per cent stake in African network Maroc Telecom to Etisalat.
Activision Blizzard CEO Bobby Kotick said: “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 $3bn cash on hand to preserve financial stability.”
