French company completes long-term goal of shuttling off gaming division in deal worth nearly $6bn.
The games publisher will buy the shares for $5.83 billion, valued at $13.60 per share, with the investment group being led by CEO Robert Kotick, with a further $2.34 billion being snapped up by co-chairman Brian Kelly.
When all is said and done, Vivendi will be left with an anaemic 12 per cent stake in Activision Blizzard while Kotick’s largest foreign investor is Tencent, which will claim 24.9 per cent.
"We should emerge even stronger- an independent company with a best-in-class franchise portfolio and the focus and flexibility to drive long-term shareholder value and expand our leadership position as one of the world's most important entertainment companies," the CEO explained in a statement.
"The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability."