Tencent would seek to become the largest shareholder of Ubisoft

Chinese conglomerate Tencent plans to increase its stake in Ubisoft, the French publisher and developer of games such as Assassin’s Creed, Far Cry and many other titles.

According to sources who spoke to Reuters, Tencent has contacted the founding family of Ubisoft Guillemot and intends to become Ubisoft’s largest shareholder. Tencent currently holds a 5% stake in the company which was bought in 2018, while the Guillemot family holds a 15% stake, and plans to offer up to 100 euros ($101.84) per share to raise Her presence. The figure is “much higher” than the company’s current price and is being offered as a way to ward off potential competition, one of the sources added.

Ubisoft was previously valued at $5.3 billion and the stock price rose as much as 16% after the release of the Reuters report. Reuters sources said Tencent also plans to acquire shares from public Ubisoft shareholders, who account for 80% of the shares held by the company. “Tencent is very committed to completing the deal because Ubisoft is such an important strategic asset to Tencent,” one of the sources said.

Tencent has stakes in US video game developers such as Epic Games and Riot Games, owns 9% of British video game company Frontier Developments and plans to buy Sumo Digital for $1.27 billion. Beyond these companies, Tencent also has minority investments in Activision Blizzard, Platinum Games, and many other studios.

Ubisoft, which successfully fought back against a takeover attempt by Vivendi several years ago, has generally dodged questions about possible acquisitions. In February, Ubisoft CEO Yves Guillemot said the company was not looking to sell, but any offer to sell would be considered by him and the board.

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