Guillemot Family buy 3.5% of Ubisoft shares in bid to stop Vivendi
Guillemot the French family who founded and run Ubisoft are facing a tough task in the markets to keep control of the game developer and publisher in the families hands. The company that is purchasing all these shares is Vivendi, who are a French multinational mass media corporation who owns the Canal+ Group as well as Universal Music Group, in the last year has managed to buy 20% of Ubisoft’s Shares and Vivendi already owns 95% of the voting rights for Gameloft another Guillemot game company.
The Guillemot Family have made an arrangement with an unknown bank that according to sources say that Ubisoft’s stock is hedged and used as collateral against the loan that has been agreed which means the family’s company , Guillemot Brothers SE was able to increase its shareholdings by about 4 million shares which is around 3.5% of Ubisoft. The 4 million shares is worth about $161 million (R2,4 billion as of 10 September conversion)
Vivendi & Ubisoft set to meet at the 29 Sept shareholder meeting
The Guillemot family with this latest purchase are well prepared for the shareholders meeting taking place on Thursday, 29 September as they try to keep the developer and has pleaded with owners and patners to add more capital into Ubisoft and the Guillemot stock in order to keep Vivendi under the majority shares. As mentioned earlier Vivendi already controls another company run by the Guillemot family, Gameloft SE with majority shares. In a similar situation Vivendi took it over through a hostile bid, and looks to be on an all out siege of the Guillemot families’ companies.
We’ll keep you updated with more news regarding Ubisoft and Vivendi, Stay tuned