Vivendi to unload remaining Ubisoft stake in forward sale

Sep. 26, 2018 1:59 PM ETVivendi SE (VIVHY)VIVEF, UBSFF, UBSFY, VIVHYBy: Jason Aycock, SA News Editor
  • Vivendi (VIVHY +1.4%) will unload its remaining 6.7% stake in Ubisoft (UBSFY +0.6%) in two parts over the next six months, Bloomberg reports.
  • After committing to Ubisoft that it would get out of its stake by March 7, the French media giant will sell 0.91% on Oct. 1 and defer the sale of 5.74% to March 5.
  • The forward sale, arranged with a pair of financial institutions, amounts to some €500M and corresponds to €66/share.
  • Ubisoft closed in Paris today up 0.7%, to €95.58.

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