Vivendi Sheds Activision Majority In $8.2B Buyback

Law360, New York (July 26, 2013, 2:50 PM EDT) -- Vivendi SA said on Friday it is shedding its majority stake in California video game publisher Activision Blizzard in an $8.2 billion stock buyback, handing over the controls to the company as part of the French conglomerate's recent efforts to unload assets and bolster its media interests.

The sale comes five years after Vivendi acquired Activision, and drops the group's ownership of the company from 61 to 12 percent, the companies said. Activision will buy back $5.8 million worth of shares at $13.60 each from Vivendi,...
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