Tencent Aiming to Become Largest Shareholder of Ubisoft
Chinese game company Tencent has made headlines over the last few years for its aggressive expansion into the international market. It’s acquired shares in several game developers and publishers in the US and Europe, including a 5% stake in Assassin’s Creed and Skull and Bones publisher Ubisoft.
However, it seems that Tencent is no longer satisfied with its small slice of the French corporation. The Chinese gaming giant is reportedly hoping to increase its ownership of Ubisoft with the long-term goal of becoming the company’s largest single shareholder.
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According to Reuters, four anonymous sources recently came forward with information on the deal in progress. According to them, Tencent is in negotiations with Ubisoft’s founding Guillemot family, who own 15% of the company. Tencent is reportedly offering 100 euros ($101.84) per share, compared to the 66 euros ($67.59) per share they spent in 2018 to acquire their current 5% stake in Ubisoft. Tencent’s also attempting to acquire additional stocks from private shareholders, who own a combined 80% of Ubisoft’s shares.
According to a source close to the negotiations, Tencent and the Guillemots have yet to finalize their deal, which may be subject to change. It’s also unclear how many shares Tencent is offering to buy or what percentage of Ubisoft’s stock the company hopes to acquire overall. Neither Tencent nor Ubisoft were willing to answer questions about the deal, and Reuters could not reach the Guillemots for questions. However, a source noted that Tencent is offering well above Ubisoft’s current stock prices to prevent competition. In addition, Tencent senior executives reportedly flew to France
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