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
Charmed_Fanatic
Ill get my cheque book
DeathByNumbers
Nowhere accepts cheques anymore, even with a cheque guarantee card. I’ll stick it on one of my credit cards and see what the minimum monthly payment is.
BIGAL-1992
That’s a big turn around for EA. Why are they doing that?
cam the man
I wonder if Branson will be interested, to give his Virgin Games a boost.
alziron
closing studios .. Selling Ubisoft Stake !!! wts th prop
and waw i didn’t know ea have 15% of upisoft
i thing that why i am fan for both of them
Apnomis
I didn’t even know EA had a 15% stake in Ubisoft! How long has that been in place? Still, €90,720,000 isn’t a bad windfall for EA, I wonder what they need the money for? Does anyone know how much they paid originally out of interest?
T-82
Get in there, Sony!
gazzagb
I never knew that EA had a stake in Ubisoft!? Seems odd though that EA are selling the shares, maybe they know something we don’t.