Activision Blizzard Goes 'Indie', Buys Vivendi Stake for $8.2 Billion
Written Friday, July 26, 2013 By Lee BradleyView author's profile
Activision Blizzard is an independent company once again after buying itself back from Vivendi in a deal worth $8.2 billion.
Along with a group of outside investors, the World of Warcraft and Call of Duty publisher will buy 439 million shares from the French media conglomerate for $5.83 billion.
Additionally, a group led by Activision CEO Bobby Kotick and co-chairman Brian Kelly will buy 172 million shares worth $2.34 billion. Kotick and Kelly chucked in $100 million of their own cash.
Vivendi, meanwhile, will continue to hold 12 per cent of the shares.
"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," said Kotick, adding that Activision Blizzard will "emerge even stronger" following the deal.