EA Selling Ubisoft Stake

It has been announced that EA will be selling its fifteen percent stake in Ubisoft.  Not to be confused with a wooden stake, or a delicious tender steak with a bit of pepper, some chips and perhaps a dash of ketchup.  Yes, it’s lunch time damn it!

EA has placed 14 million Ubisoft shares on the market at a price range of €6.48.  This was originally reported by Bloomberg and later confirmed by Ubisoft, which gave the following statement.

“On July 16th 2010, Electronic Arts (EA) put up all of its Ubisoft shares for sale on the market. Even if the shareholder relationship with Electronic Arts has been good and EA has consistently voted in support of our strategy, we feel that this transaction is in Ubisoft’s best interest.

As one of the world’s leading independent video game creators, we pursue our strategy of creating quality, innovative games across all segments of the market. Earlier this month, Ubisoft announced estimated sales for Q1 that exceeded expectations and confirmed its previous forecast for the full year 2010-11 of an expected return to profitable growth and positive cash flow from operating activities.”

Buy buy! Sell sell!

Source: Edge