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Activision Blizzard buys itself from Vivendi

Activision Blizzard has bought shares in its own company from Vivendi, giving the latter a reduction in shares from 52 per cent to just 12 per cent.

Activision Blizzard spent out $5.83 billion to buy the 429 million shares with boss Bobby Kotick and chairman Brian Kelly also purchasing 172 million shares for $2.34 billion through a separate investment group. Kotick and Kelly apparently committed $100 million of their own cash to that investor, known as ASAC 2 LP.

"We should emerge even stronger," Kotick said of the news, "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."

Edited On 26 Jul, 2013

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