A group led by Activision CEO Bobby Kotick in partnership with Activision Blizzard Inc recently completed a buyout worth USD8.2 billion of Vivendi SA owned shares in the company. The announcement came a day after the final details of the deal were hammered out.
The Santa Monica, CA based video game publisher repurchased USD5.83 billion worth of stock from Paris, France based Vivendi. The Kotick led group paid USD2.34 billion, according to an issued statement and the rest was paid by the company itself.
Activision regains its independence after five years stewardship under Vivendi. It is now free to consider opportunities available to its industry without need of approval from a parent furm. The final buyout was finalized a day after a decision by the Delaware Supreme Court said there was no need for shareholder vote on the matter.
Part of the Kotick investment group include co-Chairman Brian Kelly, Tencent Holdings Ltd, a fellow video game publisher from China, Davis Advisors and Leonard Green & Partners. This consortium would be holding a 25% stake in the company and be the largest investor group in its roster. Vivendi for its part, would retain a 12% share in the company after the buyout.
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