Vivendi has revealed plans to divest fully from Ubisoft by March 5, 2019, in their latest press release. The company amassed 26 percent of Ubisoft stock before deciding to sell.
This follows the multiple year struggle by the Guillemot brothers to maintain control of Ubisoft after the successful acquisition of the French game publisher Gameloft, which was also founded by one of the four brothers.
That struggle seems to have come to an end now that Vivendi has decided to sell all its remaining shares, roughly 6.7 percent in total.
They plan to sell the remaining shares on two separate dates: 0.91 percent on October 1, 2018, and 5.74 percent on March 5, 2019. The total value is estimated at €500 million, approximately $579 million US. The shares will be sold at the rate of €66 per share, approximately $76 US.
March 7, 2019, is the date by which Vivendi would sell all Ubisoft shares it owns, as agreed upon in a settlement between the two parties.
Vivendi retains its commitment to "refrain from purchasing" Ubisoft shares for 5 years according to the press release. Whether this is contractually obligated or not is unclear at the time of writing.
