Ubisoft sells Gameloft stake

Video game publisher Ubisoft announced the sale of its 18.89 percent stake in mobile gaming developer and publisher Gameloft to Calyon, French financial institution Crédit Agricole Group's corporate and investment bank. The sale price for Ubisoft's 13.4 million shares was €6.08, based on Gameloft's closing price on July 12. Calyon has 24 months to sell the Gameloft shares on the market--any and all changes in the Gameloft share price will be recorded by Ubisoft, so the deal will only impact its income statement and generate cash inflows when a sale is finalized.

"The video game market offers numerous internal and external growth opportunities. We have therefore decided to sell our stake in Gameloft in order to focus on Ubisoft's expansion and strengthen our ability to seize all such growth opportunities," said Yves Guillemot, Ubisoft CEO. "Following this sale Ubisoft and Gameloft will continue their productive collaboration at a purely operational level, particularly concerning the utilization of Ubisoft's brands on mobile phones."

For more on the Gameloft sale:
- read this release [1]

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