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Activision Blizzard buys itself out from Vivendi

by on July 26, 2013
 

Activision Blizzard

Activision Blizzard is buying itself out from Vivendi and is becoming an independent company, according to Games Industry International.

CEO Bobby Kotick is leading an investor group that is buying 439 million shares for an estimated $5.83 billion, while a different investment group led by Kotick and Brian Kelly (co-chariman), will purchase another 172 million shares worth $2.34 billion.

“These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi,” said Kotick in a statement, published by GI.

“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 grateful for Vivendi’s partnership through this period, and we look forward to their continued support.”

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