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Stock impact report

Ubisoft Finalises Tencent Accord As It Resumes Trading [Barron's]

UBISOFT ENTMT UNSP/ADR (UBSFY) 
Company Research Source: Barrons
Ubisoft resumed trading Friday with a stock rise and finalisation of an accord with Chinese tech giant Tencent. Tencent will become a minority shareholder in a new Ubisoft subsidiary, Vantage Studios, comprising the French group's three flagship franchises: "Assassin's Creed," "Far Cry," and "Rainbow Sky". Advertisement - Scroll to Continue The Chinese group is investing 1.16 billion euros ($1.3 billion) for a 26.3 percent stake in the subsidiary, valuing it at 3.8 billion euros. According to a statement by Ubisoft CEO Yves Guillemot, Tencent is barred from increasing or decreasing its stake for five years -- unless its partner loses its majority shareholding. Ubisoft shares rose 4.5 percent as it resumed trading Friday following a week-long suspension. The French company had stunned investors by postponing its results announcement without an explanation, triggering speculation in the video gaming world, including of a possible takeover. Advertisement - Scroll to Continu Show less Read more
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