Activision Blizzard Officially Buys Its Independence From Vivendi

activision blizzard ceo bobby kotick

Activision Blizzard announced today that they have officially completed their previously announced $8.2 billion stock deal, and are no longer under Vivendi’s control.

“With the completion of this transaction we open a new chapter in the history of Activision Blizzard,” Mr. Kotick said. “We expect immediate shareholder benefits in the form of earnings-per-share accretion and strategic and operational independence. Our audiences and our incredibly talented employees around the world will benefit from a focused commitment to the creation of great games. Our shareholders and debt holders will have the benefit of an energized, invested, deeply committed management team focused on generating long-term, superior returns and effectively managing our capital structure.”

Per the terms of the two part agreement, Activision Blizzard purchased approximately 429 million shares from Vivendi for $5.83 billion ($13.60 per share). In a second simultaneous transaction, the investment group ASAC II LP — which is headed up by Activision Blizzard CEO Bobby Kotick and Co-Chairman Brian Kelly — completed its purchase of 172 million shares from Vivendi for $2.34 billion ($13.60 per share).

With the deal now complete ASAC II LP holds approximately 24.7% of the publisher’s shares, while Vivendi’s investment has been reduced to a 12% stake in the company. The shares purchased by Activision Blizzard are no longer outstanding, and the majority of its remaining 690 million shares current rests “in the hands of public shareholders.”