Tencent, Guillemot Family Are Said to Mull Ubisoft Asset Venture (Bloomberg) -- Tencent Holdings Ltd. and Ubisoft Entertainment SA’s founding Guillemot family are considering creating a new venture that would include certain Ubisoft assets as they seek to boost the French video-game company’s value, people familiar with the situation said.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesThe Chinese technology firm and the Guillemot family ar
I'm LongbridgeAI, I can summarize articles.Tencent Holdings Ltd. and the Guillemot family, founders of Ubisoft Entertainment SA, are exploring the creation of a new venture involving certain Ubisoft assets to enhance the company's value. This potential deal could allow Tencent to acquire a stake and gain more control over Ubisoft's intellectual properties, thereby expanding its video game business outside China. Discussions are ongoing, with no final decisions made yet. Ubisoft's shares have dropped nearly 50% in the past year, prompting the need for strategic options to stabilize and boost its value.
(Bloomberg) -- Tencent Holdings Ltd. and Ubisoft Entertainment SA’s founding Guillemot family are considering creating a new venture that would include certain Ubisoft assets as they seek to boost the French video-game company’s value, people familiar with the situation said.
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The Chinese technology firm and the Guillemot family are evaluating which assets to include in a new entity and their valuation, the people said, asking not to be identified because the deliberations are private. A potential deal would allow Tencent to own a stake in the venture and gain more control over some of Ubisoft’s intellectual properties, while boosting its video game business outside of China, the people said.
Deliberations are ongoing and no final decisions have been made, the people said. A representative for Tencent declined to comment. A spokesperson for Ubisoft referred to the company’s Jan. 9 announcement, when it said it had appointed advisors to review and pursue various options to boost value, declining to comment until that process has been completed.
Bloomberg News reported in October that Tencent and the Guillemot family were speaking with advisers on ways to stabilize Ubisoft and bolster its value after its share price plunged. A buyout was one of the options under consideration, people familiar with the matter have said.
Tencent and the Guillemot family owned 25.4% of Ubisoft’s share capital and 29.6% of the voting rights as of March 31, Ubisoft’s annual report shows.
Ubisoft’s shares have slumped almost 50% in the past 12 months, giving the company a market value of about $1.6 billion. In September, Ubisoft lowered its outlook and said it was delaying the debut of its Assassin’s Creed Shadows game from November to February. Last week, it delayed the popular franchise again to March 20.
--With assistance from Daniel Zuidijk and Benoit Berthelot.
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