Breaking up is always hard to do — unless, of course, there’s a whole ton of money in the mix to make you feel better about the whole thing.
Vivendi has jumped out of doing business with Activision Blizzard, selling its 41,500,000 remaining shares in the publisher to an undisclosed financial institution for a cool $1.1 billion. Vivendi also recouped a $400M cash deposit as part of the deal. According to Vivendi, “the decision to implement these transactions was taken in view of the evolution of the Activision Blizzard stock price.”
Activision Blizzard merged with Vivendi in 2007 as part of a $18.9B deal. In 2014, Vivendi sold approximately the same amount of stock for only $866M.
This past week’s sale represented 5.7% of Activision Blizzard’s shares.