Activision Blizzard Inc and a group led by CEO Bobby Kotick said that they will purchase Vivendi SA's controlling stake for US$8.17 billion. Vivendi SA is the parent company of Activision Blizzard Inc. Under the terms of the deal, Activision will buy back 429 million of shares for US$5.83 billion. The group led by Kotick will buy 172 million shares tagged at US$2.34 billion. After the buyback, Vivendi will be left with a 12% stake claim in Activision Blizzard Inc.
Last year, Vivendi SA failed to find buyers for the stakes sold by the Santa Monica, California-based game maker. Vivendi's deal was inconclusive and was further in question even after the ousting of its former CEO Jean-Bernard Levy. Being Europe's biggest telecommunications and media company, Vivendi is on the process of reevaluating the company's structure, improve sluggish share performance, as well as increasing efforts to compete in France's mobile market.
Activision Blizzard Inc is the creator of games including "Call of Duty" and "World of Warcraft".
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